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Lev
Lev, Tax Advisor
Category: Tax
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Experience:  Taxes, Immigration, Labor Relations
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I did some contract work for a firm in the UK. Under 3K. How

Resolved Question:

-wanted to add more details-

I'm employed in the US and expect to receive a W2 for my main job.

I did some outside contract work for a firm in the UK. Under 3K. How do I report this? The guy who hired me in the UK, said they do not have 1099 forms, the contractor is responsible for reporting their income...

Mainly I'm asking: Do I report myself? If so, what form? If he needs to do something, what? and how can I help him get that info?

Submitted: 5 years ago.
Category: Tax
Expert:  Lev replied 5 years ago.

 

For your UK income - are you paid as an employee or as a independent contractor?

Did you perform the work for your UK income - in UK or in US?

Did you had any expenses - in connection with your UK contract?

Customer: replied 5 years ago.

- I was paid as an independent contractor

- I performed the work in the US and was paid in US Dollars

- No. Mainly digital IP work.

Expert:  Lev replied 5 years ago.

Based on information provided - the income you referred is considered as self-employment income.

It should be reported on the schedule C or schedule C-EZ

You may deduct qualified expenses and only net income will be taxable.

Net income will be also a subject of self-employment taxes - reportable on the schedule SE

 

Please let me know if you need more details or need references to forms.

 

Customer: replied 5 years ago.

Just to confirm, it is then correct that I need to fill out all the forms and do not need anything from the UK firm?

 

You say C or C-EZ. What is the difference?

 

Where do I get access to the appropriate forms?

Expert:  Lev replied 5 years ago.

Yes - that is correct - because the job was performed in the US - it doesn't matter if it was paid from US or UK sources.

To report self-employment income - you do not need to have 1099 forms and these forms are not sent to the IRS with tax returns.

 

Here are forms

-- schedule C - http://www.irs.gov/pub/irs-pdf/f1040sc.pdf

-- schedule C-EZ - http://www.irs.gov/pub/irs-pdf/f1040sce.pdf

the last one is a simple form - you may use this form if you met some requirements - see a list on the form. Because you will have a minimal expenses - you likely could use simple form.

You likely may consider following expenses: phone call expenses, computer use, any software or internet access expenses, etc - you need prorate these expenses for business use and deduct only that part.

 

Lev, Tax Advisor
Category: Tax
Satisfied Customers: 22654
Experience: Taxes, Immigration, Labor Relations
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