I didn't receive a 1099-misc. Is there a form to report my estimated income?
Q. I asked for a 1099-misc. from the company but did'nt receive one. A lot of my documents were damaged, therefore I only have an estimated income available.
Asked by therose777 - Fri Apr 25 02:35:23 2008 - - 1 Answers - 0 Comments

A. Call the company and ask them to send you another. They are required to do so as long as you made over $600. You do not estimate your income, you are supposed to keep good records. Your income on a 1099 will eventually work it's way to the IRS and so you best report at least what was on the 1099. And they do check. . .
Answered by towanda - Fri Apr 25 05:31:43 2008

I received a 1099-misc. I am payed on a fellowship for graduate school. I contributed 5000 to an IRA but turbo?
Q. I received a 1099-misc. I am payed on a fellowship for graduate school. I contributed 5000 to an IRA but turbo tax calculates that I owe MORE taxes and not less. What do I need to do so that my IRA is tax deductable with a 1099-misc?
Asked by Mark K - Fri Jan 30 00:08:33 2009 - - 2 Answers - 0 Comments

How are mileage deductions handled on 1099-MISC forms?
Q. I was paid mileage by a company I did some contractual work for in 2006. This mileage was paid to me at the IRS reimbursement rate by the contractor for all of my mileage. My total income including the amount of mileage I was paid for was all included in the 7. Nonemployment compensation box of my 1099-MISC form and I want to verify that this is correct. Should paid mileage be taxed the same as income? Finally, for future reference is it more beneficial for me to simply take a deduction from the IRS instead of being paid by the contractor for mileage? Thanks in advance.
Asked by digerati - Sun Apr 8 18:22:27 2007 - - 2 Answers - 0 Comments

A. If you are an independent contractor then all the compensation that the company paid you for is income to you. You should report the income paid to you on the 1099-Misc on a Schedule C, and then you would also be able to claim the mileage that you were paid for as an expense under auto/truck expenses. The mileage rate for 2006 was .445 per mile. You would be only able to claim the actual business miles that you drove for the contractual work. And as for it being more beneficial for you to simply take a deduction from the IRS instead of being paid by the contractor for mileage, unless the income tax rate ever goes up to 100% tax you're better off being paid by the contractor.
Answered by PepsiLime - Sun Apr 8 18:38:49 2007