by 3 hours ago
ANSWERS: 1
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Well, you basically need 3 forms as an independent contractor: -Schedule C (Form 1040) - Profit or Loss from Business (Sole Proprietorship) -Schedule SE (Form 1040) - Self-Employment Tax -Form 1040 In short, you need to fill the Schedule C, use the result on the Schedule SE and then transfer the amounts to Form 1040. Each Schedule has is own instructions and tell about the fields where you need to transfer the amounts. Just in case, be aware that special conditions may apply in every case...such as child earned income credit (Schedule EIC), home usage for business (Form 8829), capital gains and losses (Schedule D) and others.....so it doesn't hurt to pay a CPA if you feel your case could be a little more complicated than the usual. Hope this information is useful.
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