How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
A new question is answered every 9 seconds

Ask a Lawyer

Tina
Tina, Lawyer
Category: General
Satisfied Customers: 8603
Experience:  JD, BBA Over 25 years legal and business experience.
4460311
Type Your Legal Question Here...
characters left:
13 Lawyers are Online Now

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
< Last | Next >
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin Kernersville, NC
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther Woodstock, NY
  • Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know. Robin Elkton, Maryland
  • He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here. Diane Dallas, TX
 
 
 

Form 1040 Questions

What is a form 1040?

A Form 1040 is a type of tax form that is used by a taxpayer to file their individual tax return with the IRS. Form 1040 was used in the years 1913, 1914 and 1915 and was made into an annual form in the year 1916. Form 1040 has eleven different attachments that are called schedules. These may need to be filed depending on the taxpayer and their individual tax situation. Listed below are a few questions answered by the Experts on issues related to Form 1040.

If a person starts a home based business, what forms would the person need to fill out to get it recognized as a real business?

A person who is starting a business first needs to register a fictitious business name or FBN with the county they live in and obtain a certified copy of the FBN registration. Once the person has the certified copy of the registration, they can open a checking account. After the account has been opened, the person can fill out Form 1040, Schedule C and the corresponding State Franchise Tax Board forms at the end of the tax year and report their business income. If the person wants to set up the business as a separate legal entity, they can decide to form an LLC and get it registered with the state. As a sole worker of the LLC, all tax returns can be filed as described above. If the person chooses to hire anyone else, they would need to get a separate Employer Identification Number from the IRS.

A person who was hospitalized twice in the same year has a $10,000 deductible as well as an outstanding balance on other hospital bills. In this situation, can they deduct any of the expenses from their taxes?

This would all depend on the person’s medical bills. Only the amount of medical and dental expenses that are greater than 7.5% of the person’s AGI can be deducted on Schedule A, Form 1040. Check Form 1050, line 38 for this. In other words, the person should multiply their adjusted gross income by .075. Any medical expenses above and beyond that amount can be considered and the amount that exceeds 7.5% can be deducted.

My W-2 income shows less than $8,000 and my Schedule K-1 depicts an ordinary business income of $5,423. Do I need to file my returns using Form 1040?

You would definitely need to file Form 1040. The Schedule K-1 will have specific instructions that explain where the items need to be reported on Form 1040 and if there is a Schedule that needs to be attached as well.

A person was audited in the State of Michigan three months ago. Despite offering all the information that was needed, they are still unable to check their refund status online and are being asked for their Adjusted Gross Income (AGI). How do they find this and check the status of their return?

In the State of Michigan, there are several ways for a person to access their AGI. One way is for the person to check the following forms: Form 1040, lines 37 and 38; Form 1040A lines 21 and 22 or Form 1040EZ, line 4. Another way is to contact the IRS at 1-800-829-1040. Once they verify the person’s identity over the phone, they can tell the person what their original AGI was on request.

Form 1040 is an important form for any taxpayer and they must be aware of the rules and regulations regarding filling and submitting the form. While the questions above may have clarified a few of your doubts on the issue, there may be others you have that are specific to your case. In these situations, direct your queries to the Lawyers who can offer professional opinions and insights both quickly and at an affordable cost.

Ask a Lawyer

Tina
Tina, Lawyer
Category: General
Satisfied Customers: 8603
Experience:  JD, BBA Over 25 years legal and business experience.
4460311
Type Your Legal Question Here...
characters left:
13 Lawyers are Online Now

How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Lawyers are online & ready to help you now

Ron
ASE Certified Technician
Satisfied Customers: 21596
23 years with Ford specializing in drivability and electrical and AC. Ford certs and ASE Certs
Dr. Y.
Urologist
Satisfied Customers: 18602
I am fellowship trained specializing in general urology and reconstructive urology.
John
Home Appliance Technician
Satisfied Customers: 13453
Appliance repair business owner for over 43 years.

Recent Form 1040 Questions

  • What steps should someone take if they think they are a

    What steps should someone take if they think they are a victim of credit card fraud? I am working on an article and I would like to know what they should do if their card might have been stolen individually as well as if they were part of a larger breach
    (a la Target)
  • Hi there! This is relating to tax law. I am applying for a sales tax certificate in NY and

    Hi there! This is relating to tax law. I am applying for a sales tax certificate in NY and on the application it is asked if the responsible person has an open judgment, which I do. Will this affect the way they treat my application? what else could it trigger if I answer this? Should I find another responsible person?
  • I received a ticket for speeding & expired registration. I

    I received a ticket for speeding & expired registration. I pleaded not guilty & had a court date scheduled for 10/14/14. I accidentally wrote the date on my calendar 10/15/14 and missed the court appearance. Of course the judge found me guilty of both, however, I wrote a letter to the judge 10/15/14 explaining my mistake and begged for traffic school and payment arrangements and was denied both. Is there anything I can do at this point to go to traffic school and make payments on the fines? Thank you!
< Last | Next >
View More Legal Questions