Offistart - Virtual Offices, Office Space, Business Support Services
*Home>>>Business Services

Reimbursed business expenses reportable on Schedule C?


I received a 1099-misc for consulting work I did - it shows up as $1000 for nonemployee compensation (Box 7). However I was paid about $2200. $1200 for for airfare/hotel etc (I sent in my receipts to them) plus the $1000 for my services. Would I only enter the $1000 on Schedule C, or put in the entire $2200 plus expenses?

Enter only the $1000 as they reported to the IRS. Your client already took the airfare/hotel expense as an offset against their reportable income on their tax return (or will when they file it). They reimbursed you for it so you are not really out-of-pocket.

Tags
  Branch Offices   Temporary Offices   Shared Offices   Commercial Space   Office Space   Business Services   Business Address   Call Forwarding   Call Handling   Answering Service   Telephone Answering   Mail Forwarding
Related information
  • Help with few questions for Business class test.?

    1b: barriers to entry dampen growth, not promote it. 2a: the rest are political systems 3d: by definition 4d: by definition 5c: That's a harder one, but toothpaste and cars are definitely ...

  • Business transactions?

    For this transaction to balance you will have to debit accts rec and credit a revenue account. None of the accounts you listed are revenue accts though. Are you sure the question isn't asking ...

  • Need business name suggestions....?

    explorer uber Pack & Go fling wroom!

    ...
  • Can you live with 5000 CAD a month?

    A typical Financial Analyst I working in Canada earns a median base salary of $52,625, according to our analysis of data reported by corporate HR departments. Half of the people in this job earn be...

  • No good in engilsh i need some help with their definitions PLEASE?

    1. concerns house and business 2. concerns quality of life and your neighbourhood 3. concerns art and life from other countries and races and enjoyment.

    ...
  • Do i have to have a phone line at home to get wireless internet? Also need to travel with it 4 small business?

    you can also get wireless high speed net access form most cel phone carriers via a card the goes into your computers card slot and works via cellphone signals witch will work wherever you are

    ...
  • How to get a link with a serious business partners interested in investing in Nigeria?

    Nigeria has a reputation for being the fraud capital of the world. Because of the massive fraud, many companies will not do business with any companies or individuals who are based in Nigeria. ...

  • Im trying to come up with a good name for my home based house cleaning services?

    Homes from Home Blanca Slate (but only if you are always on time, otherwise people would call it "Blanca's Late) or my fave: The Blanca House

    ...
  •  

    Categories--Copyright/IP Policy--Contact Webmaster