Originally posted by: EagleKeeper
The filing of Schedule C was requred based on your income level (I was not aware of the level).
I don't follow you. I didn't have to file Sch. C if it weren't for the extra $500 misc. income, which I mentioned the amount a few times. I had to use Sch. C because, as it said, it was over $400.
We are just stating the same things. I was stating that I not personally aware of the limitation for the misc income level.
It also shows how benificial it is to dig up deductions/expenses regarding sel-employment income.
Yeah my father has a LOT of these. It was a one time deal for me, so not much there. I even rode w/ him in the car.
Yep he has milage, PC for checking weather, etc.
They may not be a big deal, but the examples were intended for you to look at ways of reducing the impact of the extra income.
I would have expected that in order be legally allowed to fly, you have to be physcially checked out. The costs of a medical exam and/or insurance costs are then expenses.
I wasn't legally flying the plane. My father was.
It makes not difference who was flying the plane. Based on what you had stated, in order for you to be there, you had to have the training and met the medical requirements. Again, I was showing examples on expenses that could be used to lower the impact of the extra income.
This is the second year I've used TaxAct, and must say for the most part, it works pretty well.