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CASH

automex
Level 1

I HAVE A CUSTOMER THAT GOT CASH AND NO 1099, HOW DO I ENTER SUCH OF MONEY IN PROSERIES?

0 Cheers
4 Comments 4
Camp1040
Level 11

Gross receipts or sales, rents received, other income.

Classify the income and report it on the proper schedule.

IRonMaN
Level 15

But tread carefully.  Some folks know what the magical amount is to max out the earned income credit and maybe didn't really earn the dollars they said they did.


Slava Ukraini!
TaxGuyBill
Level 15

What do you mean?  All of my clients have three kids, income of $15,000-$25,000 and zero business expenses.  Is that a problem?   🤣

Oh, and I check everything on the 8867 but don't actually keep any records.

IRonMaN
Level 15

You must be able to do all of those returns in your sleep 😁


Slava Ukraini!