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So, I am currently working on a Schedule C for said information for an accounting class. I have tried to figure it out, but its
So, I am currently working on a Schedule C for said information for an accounting class. I have tried to figure it out, but its not making much sense to me. Any help would be greatfull. Need a help on figure out were to start.
Jackie had the following earnings on her W-2:
- Wages: $55,159
- Federal tax withheld: $7,460
- Social Security tax withheld: $3,420
- Medicare tax withheld: $800
Jackie had the following income (as shown on Form 1099) and expenses from her business:
- Totalself-employmentincome reported on Form 1099 was $23,000 and came from the real estate commissions earned from home sales.
Business Expenses:
Rent
7,200
Travel expenses
2,200
Advertising
2,345
Supplies
955
Office expenses
750
Telephone
720
Internet expense
540
Broker license
75
Legal and professional
1,000
Miscellaneous
150
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