Daycare.com Forum
Daycare and Taxes>Business or Personal Income
snbauser 10:37 AM 01-30-2015
I received a grant through my local child care resourse office. They had me fill out a tax form for it and I used my tax id. They returned the form and told me they couldn't use my tax id it needed to be my social security number. So I gave them that. I just got the 1099 misc from them. It's issued in my name with my social security number and Not in my business name or my tax id number. Do I claim it as "self employment/business income" or "personal income"?
snbauser 06:36 PM 02-02-2015
Just bumping .. Does it matter which way I claim it?
TomCopeland 06:58 AM 02-03-2015
Originally Posted by snbauser:
I received a grant through my local child care resourse office. They had me fill out a tax form for it and I used my tax id. They returned the form and told me they couldn't use my tax id it needed to be my social security number. So I gave them that. I just got the 1099 misc from them. It's issued in my name with my social security number and Not in my business name or my tax id number. Do I claim it as "self employment/business income" or "personal income"?
It's self employment income because you received it because of your business. If you spent the money on something for your business you can deduct it as a business expense.I received a grant through my local child care resourse office. They had me fill out a tax form for it and I used my tax id. They returned the form and told me they couldn't use my tax id it needed to be my social security number. So I gave them that. I just got the 1099 misc from them. It's issued in my name with my social security number and Not in my business name or my tax id number. Do I claim it as "self employment/business income" or "personal income"?
snbauser 10:30 AM 02-03-2015
Thanks Tom!