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Which of the following taxpayers needs to prepare a Schedule C (Form 1040)? Alexis has a Form W-2G showing $25,000 in winnings from playing blackjack.
Which of the following taxpayers needs to prepare a Schedule C (Form 1040)? Alexis has a Form W-2G showing $25,000 in winnings from playing blackjack. She has records showing she spent $30,000 playing blackjack. David has a Form 1099-MISC showing $1,300 in box 3 for winning a neighborhood fundraising raffle. He bought six raffle tickets for $10 each. Johnny has a Form 1099-NEC showing $825 in box 1 as compensation for distributing product samples. He incurred no expenses. Stevie sold her car to her neighbor for $2,800 cash. She bought the car ten years ago for $20,000
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