Thursday, April 9, 2009

How do I separate my jobs/writeoffs for taxes for 3 jobs, 1 an Independent Contractor job?

Job 1: Independent Contractor (has writeoffs for gas, office supplies, etc.)

Job 2: Employee (has writeoffs for gas, office supplies, etc.)

Job 3: Employee

Also, I have $1500 in interest for student loans.

How do I separate all of these for my tax filing?


What you can do is prorate your expenses based on the income percentage received from each job that allows you to write off expenses. It sounds like you need to use a Form 8829 (Business Use of Home) if you have an area in your home */exclusively/* used for your home office.

Job 1 amounts go on schedule C.

Job 2 and 3 amounts go on schedule A (they may not do you any good). Note, W-2 deductions requires that your employer refused to reimburse you for the amount spent. And that the amount spent is ordinary and necessary for the job. Gas for commuting is never deductible and office supplies are hard to believe that you couldn't just get them at work.

Student loan interest is an adjustment on the front of the tax return.

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