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I could call our tax accountant, I need to at some point but am waiting for some paperwork first.
Accountant didn't ask about my 401k contributions and we received a $695 penalty for not having medical insurance for him. We moved which I believe is a "qualifying event" so may not have to pay the fine. Accountant hurt himself and was in pain last go around so that might have played into it. Husband didn't tell him so it's our fault. I was working 70 hrs a wk at that time so wasn't involved.
If he's the one actually in business then the issue with the matching of the 1099 is resolved by filling out a second Schedule C under your name and social security number with an offset to that revenue stating the revenue is being reported on the other Schedule C and your husband's social security number.
You may get a notice that you need to respond to with an explanation but at least everything will have been properly reported in the original return.
We received a notice from the IRS after we filed taxes. I didn't make enough $ to add him onto my employers health policy, he's 58 and it would've been close to $500 a month for a $1300 mo high deductible Kaiser plan
If he's the one actually in business then the issue with the matching of the 1099 is resolved by filling out a second Schedule C under your name and social security number with an offset to that revenue stating the revenue is being reported on the other Schedule C and your husband's social security number.
You may get a notice that you need to respond to with an explanation but at least everything will have been properly reported in the original return.
I believe she would have to send him a 1099 and file a 1096 with the IRS to do that.
Plus she needs to amend her 2018 tax return if she didn’t claim that income.
My husband and I each file Schedule C’s. We’ve also been audited. Just be very accurate and be able to prove everything. Keep good records.
If he's the one actually in business then the issue with the matching of the 1099 is resolved by filling out a second Schedule C under your name and social security number with an offset to that revenue stating the revenue is being reported on the other Schedule C and your husband's social security number.
You may get a notice that you need to respond to with an explanation but at least everything will have been properly reported in the original return.
I missed this but it makes perfect sense. I hope IRS accepts the amendments. Our tax guy surely knows how to do it.
I believe she would have to send him a 1099 and file a 1096 with the IRS to do that.
Plus she needs to amend her 2018 tax return if she didn’t claim that income.
My husband and I each file Schedule C’s. We’ve also been audited. Just be very accurate and be able to prove everything. Keep good records.
You could, but it isn't necessary. It's a pretty common thing to show income reported to one taxpayer actually belonging to another, more common with interest and dividend income with minors or deceased individuals but also with other types of income like this.
Also, don't continue to neglect getting your appropriate business licenses/permits through your city/county and California. That $29K revenue needs to be reported. You may be required to file monthly or quarterly returns.
Also, don't continue to neglect getting your appropriate business licenses/permits through your city/county and California. That $29K revenue needs to be reported. You may be required to file monthly or quarterly returns.
I spoke with him yesterday and forgot to ask, shoot. He might call back.
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