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Question

I usually file my federal taxes on turbo tax via my computer. This year I'm filing with added part time work in order to obtained social security credits. Will Social Security be automatically notified. I worked as a part time taxi cab driver. There was no W2 because owner was an independant. Should I use my name as proprietor, name of taxi company as principal business, accounting method: cash. How do I enter code of business?? 999999?

Submitted: 43 days and 5 hours ago.
Category: Tax
Value: $15
Status: CLOSED
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State/Country relating to question: Massachusetts

Already Tried:
Anticipating 99 taxes I was trying turbo taxes but got stuck when I reached Profit or Loss Business???

Accepted Answer

You need to file a schedule C to report income you earned as self-employed contractor.

Your self-employment taxes will be calculated based on your net business income - use schedule SE - http://www.irs.gov/pub/irs-pdf/f1040sse.pdf - please verify if that schedule is included into your tax return.

The amount of your self-employment taxes will be remitted and reported to Social Security Administration.

 

The business code "999999" is used when you are not able to find the appropriate code.

See list of codes in instructions for the schedule C page 10 - http://www.irs.gov/pub/irs-pdf/i1040sc.pdf

 

You might need to use - 485300 Taxi & limousine service.

Let me know if you need any help.

 

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Expert: LEV
Pos. Feedback: 99.3 %
Accepts: 
Answered: 10/10/2009

Tax Preparer

Taxes, Immigration, Labor Relations

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