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Taxpayer received W2 and 1099 from same employer. 1099 was for rental of tools to employer. Can a sch C be prepared and best way to reduce self employment taxes?
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Rental of personal property can be shown on line 21 (Screen 14, Other Income) and expenses associated with that as an adjustment to income (Screen 24, Other Adjustments, Expenses from the rental of personal property).
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