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Wrt 1099 misc form... Non-employee compensation, box 7,

Customer Question
Wrt 1099 misc form... ...

Wrt 1099 misc form...

Accountant's Assistant: Is there anything else important you think the Accountant should know?

Non-employee compensation, box 7, includes reimbursement money for miles driven while contracted. should these monies be counted as income, or can I leave them out, and explain the reason for doing so in a statement I attach to my sched. C?

Submitted: 1 year ago.Category: Tax
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4/12/2017
Tax Professional: Robin D., Senior Tax Advisor 4 replied 1 year ago
Robin D.
Robin D., Senior Tax Advisor 4
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 1 year ago

If the reimbursement is added on the 1099MISC then you claim the miles on the Schedule C. In doing that they are subtracted from the Gross and you are not taxed on them.

You do not need to attach a statement, you just report the miles that you were reimbursed for as a an expense.

Please let me know by posting below if you need clarification and so I know you could view the answer. If you do not require more information, a positive 5 star rating is appreciated.

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