Home Page link  

1099-misc income

  
Groups | Search | About
User Password
Register Now! Lost Password?

Taxes General Forum - Tax professionals meeting place and answers to queries. (Moderated)

 Post an article  get this group's latest topics as an RSS feed add this group's latest topics to your My MSN content add this group's latest topics to your My Yahoo content  add this group's latest topics to your Google content  YahooMyWeb Yahoo!  Google Google  Windows Live Favorites Windows Live  del.icio.us del.icio.us  digg digg  Add to Netscape Netscape
Subject Author Date
1099-misc income tj88 02-03-2008
Posted by D. Stussy on February 7, 2008, 1:26 am
Please log in for more thread options
> > D. Stussy wrote:
> > >> In article
> > >>> I have a disabled room mate who qualifies for rent assistance from
the
> > >>> county in which we live. I receive $100 monthly in my name from the
> > >>> county. The county sent me a 1099-misc at the end of the year
reporting
> > >>> $900 of income to me. Do I have to report this as other income on my
form
> > >>> 1040 or can I write it off some how?
> > >
> > > Why are the payments in your name and not in the name of the disabled
> > > roommate?
>
> As a VITA/TCE volunteer I see several of these 1099's from the County in
> the name of the disabled person to the parent or caregiver as payment
> for the care of a disabled person. There is no indication of why the
> payment was issued

Noted - but "roommate" isn't a relative or a caregiver position. I don't
see how the person is in charge of the disabled's affairs...?

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Seth on February 7, 2008, 11:09 am
Please log in for more thread options
>> I assume the 1099 reports this as Rent?
>>
>> If that is reasonable fair market rental for the unit you are
>> renting, report the income on schedule E and take your expenses
>> also on that schedule.
>
>How can he do that? He's not the landlord!

If he pays the full rent and sublets to his roommate, then he _is_ his
roommate's landlord.

Seth

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by tj88 on February 6, 2008, 7:35 pm
Please log in for more thread options
The room mate has a disability but I do not care for this person. I just
provide him room and board at my own residence. The program he is in makes
him eligible to receive rent assistance. This rent compensation is payed to
the person who charges the rent. I guess this is done to make sure the
monies go where they are suppose to go.

I am not a business man so I have never filed a Schedule C, though I do
have added expenses due to having this boarder.

--
Message posted using http://www.talkabouttaxes.com/group/misc.taxes.moderated/
More information at http://www.talkabouttaxes.com/faq.html

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by D. Stussy on February 7, 2008, 1:26 am
Please log in for more thread options
> The room mate has a disability but I do not care for this person. I just
> provide him room and board at my own residence. The program he is in makes
> him eligible to receive rent assistance. This rent compensation is payed
to
> the person who charges the rent. I guess this is done to make sure the
> monies go where they are suppose to go.
>
> I am not a business man so I have never filed a Schedule C, though I do
> have added expenses due to having this boarder.

Now, that makes sense. Report on Schedule E as you are renting to him.

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Avrum Lapin on February 7, 2008, 1:27 am
Please log in for more thread options
In article

> The room mate has a disability but I do not care for this person. I just
> provide him room and board at my own residence. The program he is in makes
> him eligible to receive rent assistance. This rent compensation is payed to
> the person who charges the rent. I guess this is done to make sure the
> monies go where they are suppose to go.
>
> I am not a business man so I have never filed a Schedule C, though I do
> have added expenses due to having this boarder.
>
Download Form C-EZ from the iRS site. I think that you will find it
self explanatory. If your net profit ($100 - your added expenses) times
the number of months is less than $400 you will not have to file a
Schedule SE. Expenses might be food, rides, extra heat and light
because he is home while you are at work.

This (like jury pay) is another instance where no good deed goes
unpunished.

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Similar ThreadsPosted
Should two states income on W2 sum to Federal Gross Income ? April 9, 2008, 2:23 pm
Income Tax on Social Security Income September 10, 2007, 6:58 pm
Re: Income Tax on Social Security Income September 12, 2007, 10:05 pm
Schedule C Earned Income - Excluded as Foreign Earned Income? May 31, 2007, 12:58 am
Re: Schedule C Earned Income - Excluded as Foreign Earned Income? June 3, 2007, 10:29 pm
Re: Schedule C Earned Income - Excluded as Foreign Earned Income? June 3, 2007, 10:29 pm
PTP & income tax November 13, 2006, 8:09 pm
no income February 20, 2008, 11:20 pm
how many pay income tax? September 14, 2008, 6:57 pm
Rental Income February 5, 2007, 1:51 am

Contact Us | Privacy Policy
This site is not affiliated with Intuit - makers of Quickbooks and Quicken software
This site is not affiliated with Sage Software - makers of Peachtree accounting software
XML SitemapXML Sitemap