Archive for September 29th, 2010
happynoodleboy81 asked:
I have two sources of income, and am trying to figure out exactly how much I can say is business expenses. I’m wanting to deduct expenses related to one job, but that particular job didn’t have enough income to cover those expenses, but both jobs’ income combined did. Am I only allowed to deduct the expenses for that particular job? For example, one job is transportation related, the other is web related. I get enough income from the transportation job to cover the expenses for both jobs, but i’m wanting to declare expenses from the web related job, which didn’t get enough income to cover them.
On the web related job, I didn’t make enough to get a 1099, and I don’t believe I ever got a W2. As for the other job, I got a W2. Although it’s sounding like I can only deduct expenses related to one particular job, so it doesn’t seem like it matters either way.
Rayford Laurenitis
I have two sources of income, and am trying to figure out exactly how much I can say is business expenses. I’m wanting to deduct expenses related to one job, but that particular job didn’t have enough income to cover those expenses, but both jobs’ income combined did. Am I only allowed to deduct the expenses for that particular job? For example, one job is transportation related, the other is web related. I get enough income from the transportation job to cover the expenses for both jobs, but i’m wanting to declare expenses from the web related job, which didn’t get enough income to cover them.
On the web related job, I didn’t make enough to get a 1099, and I don’t believe I ever got a W2. As for the other job, I got a W2. Although it’s sounding like I can only deduct expenses related to one particular job, so it doesn’t seem like it matters either way.
Rayford Laurenitis