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Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 2499
Experience:  Nearly 30 years of varied tax industry exp. Tax Biz owner
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Hello. I have a few questions about my tax return. 1) How

Customer Question

Hello. I have a few questions about my tax return. 1) How do I report child support or do I report it at all? 2) How do I report money that was left to me by a family member in their will?

Thank you.
Submitted: 1 year ago.
Category: Tax
Expert:  Tax.appeal.168 replied 1 year ago.
Welcome. THANK YOU for choosing Just Answer. My name is XXXXX XXXXX my goal is to help make YOUR life, a little...LESS taxing.

Q: How do I report child support or do I report it at all?

A: You do not report child support, it is not deductible to you, or considered income to the parent who receives it.

------------------------------------------------------

Q: How do I report money that was left to me by a family member in their will?

A: Inheritances are not taxable income. Therefore you do not need to report an inheritance on your tax return either. However, if the family member was not an American citizen, and the amount rec'd was greater than $100,000, you do need to complete a Form 3520.

Please let me know if I can be of further assistance to you regarding this matter.

Thank you again for using JUST ANSWER.
Customer: replied 1 year ago.

what do I report if my consulting work was paid by an individual and no 1099 was issued?

Expert:  Tax.appeal.168 replied 1 year ago.
Hello again,

As you are doing consulting work, you are considered a sole proprietor for tax purposes. If the amount earned was $400 or more, it does not matter that you did not receive a 1099. You need to complete a Form Schedule C to report income and expenses from your consulting work. This form is included with the Form 1040.

Link to Schedule C/Instructions:

http://www.irs.gov/pub/irs-pdf/f1040sc.pdf
http://www.irs.gov/pub/irs-pdf/i1040sc.pdf
Customer: replied 1 year ago.

thank you. XXXXX had earnings from a judgement paid from a court TV show. Do i claim them?

Expert:  Tax.appeal.168 replied 1 year ago.

Usually money and gifts that are won on television shows are taxable. In some cases judgments and settlements are not. You can refer to the following IRS document that explains the taxation of settlements.

http://www.irs.gov/pub/irs-pdf/p4345.pdf

 

My apologies, but I will be leaving the computer shortly. Please remember to rate my response positively, as this is the way that I will receive credit for assisting you.

 

Thank you again for using JUST ANSWER.

Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 2499
Experience: Nearly 30 years of varied tax industry exp. Tax Biz owner
Tax.appeal.168 and other Tax Specialists are ready to help you
Customer: replied 1 year ago.

Hi two more things very quickly if you can


 


1) I do have to file the 1040 alongside my Schedule C Profit or Loss


From Business. I found this form now.



2) Once I have filled out the 1040 how do I send into the IRS since I do not want to use the e filing software?



THANK YOU




 

Expert:  Tax.appeal.168 replied 1 year ago.
Hello again,

Thank you for the high posiive rating and bonus. I appreciate it.

As for your last two questions, the following apply;

Q: I do have to file the 1040 alongside my Schedule C Profit or Loss

A: Yes, the Schedule C has to be filed with the Form 1040.

-----------------------------------------------

Q:
Once I have filled out the 1040 how do I send into the IRS since I do not want to use the e filing software?

A: You would have to mail the return in if you don't e-file it. Individual tax software programs have the option to e-file the return for a fee, but if you do not wish to use the e-file option, you will mail the 1040 and applicable forms to the following address;

If you ar enot enclosing a payment:

Department of the Treasury
Internal Revenue Service
Kansas City, MO 64999-0002

If you are enclosing a payment:

Internal Revenue Service
P.O. Box 37008
Hartford, CT 06176-0008

---------------------------------------------------

If you’re NOT including a payment, mail your return to:

 

STATE PROCESSING CENTER

PO BOX 61000
ALBANY NY 12261-0001

 

If you’re including a payment (check or money order), mail your return to:

 

STATE PROCESSING CENTER
PO BOX 15555
ALBANY NY 12212-5555

 

You can mail your return and tax payment using a private delivery service instead of the U.S. Postal Service. If you use any private delivery service, send the forms to:


STATE PROCESSING CENTER
30 WALL STREET
BINGHAMTON NY 13901-2718

 

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