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05-21-2012, 06:43 PM
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#11 |
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VIP Member
Join Date: Jun 2009
Location: Boulder City, Nevada 89005
Posts: 2,741
Likes: 2,834
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Re: Help: Self Employ. Tax on Race Purses
My son Jon does not file a Schedule A as he is does not itemize and just take a Std. Deduction. It looks like he will file C EZ and have to show the income BUT
NOT show any expenses at all period (NO Schedule. A). He will have to SE taxes on all earnings from the racing since they are all 1099. The racetrackshow " Compensated Non Employee". |
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