Opfor77
Level 4
yesterday
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SORRY FOR ALL CAPS....CLIENT HAS A SCHEDULE C SOLE PROPRIETORSHIP AS A PILOT. HE SIGNED ONTO AN AIRLINE CADET TRAINING PROGRAM TO EVENTUALLY BECOME AN EMPLOYEE PILOT OF THE AIRLINE ONCE HE REACHES A CERTAIN NUMBER OF FLIGHT HOURS. AFTER SIGNING ONTO THE CADET PROGRAM, THE AIRLINE GAVE HIM A $7,500 BONUS. HE RECEIVED, FROM THE AIRLINE, A 1099-NEC WITH NONEMPLOYEE COMPENSATION OF $7,500. DOES HE COUNT THAT AS PART OF HIS SCHEDULE C GROSS RECEIPTS, OR DOES HE JUST PUT IT AS OTHER INCOME ON HIS TAX RETURN?
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