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On a schedule c who do you put as the proprietor if it is a…

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On a schedule c...

On a schedule c who do you put as the proprietor if it is a newspaper route and you are given a 1099-misc

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

For the proprietor name do I put my name or who my employer was

Accountant's Assistant: Is there anything else the Accountant should be aware of?

I just got audited and it is asking questions about the business which is the newspaper route

Submitted: 7 months ago.Category: Tax
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Customer reply replied 7 months ago
on a schedule c-4 Form 886-a do I put the information from the 1099 or my information. This is for a newspaper route I have.
Answered in 3 hours by:
12/9/2017
Tax Professional: James Daloisio, Tax Attorney replied 7 months ago
James Daloisio
James Daloisio, Tax Attorney
Category: Tax
Satisfied Customers: 724
Experience: 24 years of continuing education and experience.
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Hi, my name is ***** ***** welcome to Just Answer.

Your newspaper route is your business and you are the sole proprietor. You were given a form 1099-MISC because you are not an "employee" of the newspaper; you are an independent contractor. On your Schedule C, you will put your name as the sole proprietor and your home address as your business address. Schedule C will also have a box for an industry code. It will probably be 454390, "Non store retailers," and "Other direct selling establishments."

Form 886A is a generic form that the IRS uses to ask for information and they routinely ask for way more than they really need. Try to answer their specific questions as briefly but with as much detail as possible.

As a route distributor you probably have substantial mileage if you use a car or truck. That's probably your biggest deduction on your Schedule C. You can deduct any business expense that is reasonable and necessary to perform the job. This would include office supplies, phone calls, postage, etc.

Note that if you did not keep mileage records, you would still be entitled to a reasonable mileage deduction by giving the IRS a map with your route, showing how long it is.

Once you have your deductions, you subtract them from the 1099-MISC box 7 amount, and you have your net profit. This profit is subject to a self employment tax of 15.3%, if your net earnings are $400 or more. The tax is calculated on Schedule SE.

One-half of your self employment tax is deducted from your gross income on line 27 of your form 1040.

Hope that helped. If so a positive rating here would be appreciated. You can always return with follow up questions on this topic at no additional charge. Thank you for using Just Answer.

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Customer reply replied 7 months ago
Ok so on the 886A I list myself as proprietor but for business name do I put Newspaper route or leave blank and business established is date started
Tax Professional: James Daloisio, Tax Attorney replied 7 months ago

You would only list a business name if you are doing business under a name other than your own name. If you haven't filed a dba, just leave it blank, both on the 886A and on Line C on your Schedule C. If the 886A is asking for the date the business was established then yes, you'd put the date you began your route delivery services.

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