asked
As the owner of an antique mall, I provide 1099-MISC to my vendors who are not employees. They pay rent but no commission, and I collect and submit sales tax and pay vendors monthly for their sales. I was told by the IRS that I need to report all sales on my tax return, even though it's not my income, and then deduct what I pay out to my vendors. I'm confused about whether to use 1099-MISC or 1099-NEC since I'm not paying them for work or services but for their own sales. Which form should I use, and do I need to switch to the NEC or can I continue with the MISC as long as it is getting reported?
January 6th, 2024
I use TurboTax to file my business tax for 2019 and 2020. I have 2 members, I’m 90% and the other partner is 10%, so I used the 1120s form to file. Today, after talking to the IRS, they said that I was supposed to file under 1065 and they have been rejecting this whole time. How fast can I correct all this information?
September 2nd, 2023
I haven't received my 2019 taxes and my child hasn't been getting the stimulus check and tax credit. What should I do?
January 4th, 2024
In the event of a husband's death, does the surviving widow receive the deceased husband's benefit instead of her own benefit if the husband's benefit was greater?
February 19th, 2023
I have an inherited IRA worth $26,000. I was laid off due to Covid-19 and made less money this year. Cashing out the IRA won't push me into a higher tax bracket. Would I be okay to cash out the IRA and be taxed as I normally would if I made the money working? Are there any hidden taxes I need to be worried about?
April 1st, 2023
I never received my tax refund from 2020 unemployment. I think I may have filed my taxes incorrectly. How can I get online help to resolve this issue?
August 17th, 2024