[thedump] loncapa and the IRS

[macklem]

Claim the money on line 21 which says other.  Just write MSU and the dollar amount
on that line.  It adds the amount to your gross income.

I have written grants in many times on this page, the IRS hasn't complained yet!?

George

ciskep wrote:

> I claim mine as a small business.  I use schedule c-ez to report it.  It has
> meant for me that I need to pay self employment tax on top of the normal income
> tax.  A small price to pay to live inb a democracy and to provide tax breaks to
> all of George Bush's contributers.
>
> Paul
>
> Quoting macklem <macklem@fvl.k12.mi.us>:
>
> > the grant is a 1099 misc and goes on the 1040 toward the bottom of the
> > first page, I cannot remember the specific line at this point.  It is
> > the last of the addition to the expenses set.
> >
> > George
> >
> > PS I will look it up tonight when I get home to find the specific line
> > item.
> >
> > rob@mockster.net wrote:
> >
> > > On Feb 6, 2004, at 11:24 AM, <rob@mockster.net> wrote:
> > >
> > >
> > >      <?fontfamily><?param Arial><?smaller>Hello
> > >      Helen,<?/smaller><?/fontfamily>
> > >
> > >      <?fontfamily><?param Arial><?smaller>I made my annual trip
> > >      to H&R block yesterday to have my taxes done, and the grant
> > >      money really confused my accountant.
> > >      <?/smaller><?/fontfamily>
> > >      <?fontfamily><?param Arial><?smaller>Do you have any extra
> > >      information about it?<?/smaller><?/fontfamily>
> > >      <?fontfamily><?param Arial><?smaller>She was looking for
> > >      some code or some such thing, and was unable to find it.
> > >      She ended up saying I now needed to file as a small
> > >      business.<?/smaller><?/fontfamily>
> > >
> > >      <?fontfamily><?param Arial><?smaller>Thanks in
> > >      advance,<?/smaller><?/fontfamily>
> > >
> > >      <?fontfamily><?param Arial><?smaller>rob  Hi Rob,
> > >
> > >      I don't understand this either.
> > >
> > >      Tyler, do you have any insight?
> > >
> > >      You may want to post his to Thedump. You are the first
> > >      person who has posed this kind of question.
> > >
> > >      Helen
> > >      <?/smaller><?/fontfamily>
> > >
> >
>
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