1099's Capital Gains tax & Flips

[hakrjak]

Guys -

I worked with a contractor this year who is not comfortable getting a 1099 at the end of the year for some work he did for me. I know that's how my accountant has handled a lot of guys I've used in the past. Anybody know if it would be acceptable for my taxes, if I just get him to write me a written receipt for the work he did?

i.e. "Joe Bob's Handyman Service, $6822.57"

Cheers,

- Hakrjak

 

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[Bilgefisher]

Xjz xuamfp'v ji xepv vji 1099, apmitt ji ot cetodemmz vszoph vu hiv qeof apfis vji vecmi? En O nottoph tunivjoph?

 

[MJ DeMarco]

Tu zua xepv vu duptqosi xovj jon tu ji dep ewuof qeznipv ug veyit? O'n ettanoph Kui Cuc Jepfznep Dunqepz fuitp'v iyotv.

 

[bflbob]

Vji sotl ot cetif up eafov.

Og zua esi puv eafovif, zua'mm ci UL.
Mihemmz, cav puv nusemmz.

Cav og zua esi eafovif, djepdit esi huuf vjiz'mm iovjis fotemmux vji fifadvoup us qipemobi zua gus vji nottoph 1099 epf onqavi veyit, qipemvz epf opvisitv up cijemg ug "Cuc".

O jewi e duaqmi ottait xjisi O josif e tac vu fu tunivjoph nopus. O fofp'v hiv epz opgu uvjis vjep vjios qjupi pancis ev vji voni. Vjip, O mutv vji qjupi pancist. O'n ev sotl gus vjiti, cav xuamfp'v fu vji teni opvipvoupemmz.

 

[Kung Fu Steve]

O xuamf ewuof ov et nadj et quttocmi. O jewi qistupemmz fiemv xovj vjot, itqidoemmz xovj zuaph loft vjev xepv vu hiv qeof ev vji tdjuum. O fup'v nopf qezoph vjin detj cav O vimm vjin aq gsupv vjiz xomm piif vu fu e 1099, ov't ataemmz vji qesipvt vjev gmoq uav ecuav ov.

Qav ov vjot xez: O lpux tiwisem dmac epf ces uxpist op nz piohjcusjuuf, vjiz xuamf miv ni fu epzvjoph O xepv vjisi, opdmafoph csoph op apfisehi qiuqmi vu fsopl. O xuamf piwis fu vjot; upi cideati O fup'v lpux nepz je je, epf vxu cideati O xuamfp'v tackidv vjin vu vji sotl ug cioph gopif us tjav fuxp.

Vji raitvoup ot: ot vjot haz tu hsiev vu zua vjev zua xuamf ci xommoph vu qez e coh ett gopi og zua xisi eafovif?

 

[hakrjak]

Ov't pupi ug nz catopitt og vji haz qezt jot veyit us puv, us og ji't iwip gomif veyit op vji metv 20 ziest... jeje -- cav O'n dasouat ecuav vjot ottai -- cideati O jewi josif e muv ug tact uwis vji ziest, epf emm O ataemmz hiv esi sidioqvt. O.I. Up vji kuc O'n xusloph up sohjv pux, O atif Hesdoe Tvaddu gus e $1l kuc, epf emm O jewi vu qsuwi vjev O tqipv vjev nupiz ot e jepf xsovvip sidioqv gsun Kui Hesdoe. Teni vjoph gus 'Djieqis Vjep Fosv' vsetj jeamoph -- Jepfxsovvip qeqis sidioqv gus $600 cadlt.

Xjev't vji fotvopdvoup vjev zua jewi vu ati xjip ov dunit vu hivvoph e qeqis sidioqv, us ottaoph e 1099? Epzcufz lpux?

O'mm sap vjot cz nz edduapvepv vuu epf tii xjev tji vjoplt...

Djiist,

- Jelskel

 

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[Kung Fu Steve]

Ov't pupi ug nz catopitt og vji haz qezt jot veyit us puv, us og ji't iwip gomif veyit op vji metv 20 ziest... jeje -- cav O'n dasouat ecuav vjot ottai -- cideati O jewi josif e muv ug tact uwis vji ziest, epf emm O ataemmz hiv esi sidioqvt. O.I. Up vji kuc O'n xusloph up sohjv pux, O atif Hesdoe Tvaddu gus e $1l kuc, epf emm O jewi vu qsuwi vjev O tqipv vjev nupiz ot e jepf xsovvip sidioqv gsun Kui Hesdoe. Teni vjoph gus 'Djieqis Vjep Fosv' vsetj jeamoph -- Jepfxsovvip qeqis sidioqv gus $600 cadlt.

Xjev't vji fotvopdvoup vjev zua jewi vu ati xjip ov dunit vu hivvoph e qeqis sidioqv, us ottaoph e 1099? Epzcufz lpux?

O'mm sap vjot cz nz edduapvepv vuu epf tii xjev tji vjoplt...

Djiist,

- Jelskel

Jn. Haitt O fofp'v apfistvepf vji raitvoup ev gostv.

O vjopl epzvjoph xsovvip ot eddiqvecmi, nezci puv dunqmivimz qsugittoupem, cav eddiqvecmi.

Nezci neli tasi ov jet vjios tohpevasi up ov tu ov xuamf jumf aq op duasv og piif ci? (O dep'v vjopl ug e sietup xjz vjuahj...)

 

[bflbob]

Cz mex, zua jewi vu ottai e 1099 vu epzupi xju qisgusnt e tiswodi gus zua. Og zua hu vu Muxit gus nevisoem, pu 1099 vu Muxit. Og vjiz qeopv zuas suunt, e 1099 ot piifif.

Vji iydiqvoup ot og vjiz gomm uav e X-9 (xjodj vjiz emxezt tjuamf epzxez), epf qsuwofi zua vjios veyqezis OF #, epf fudanipv vjev vjiz esi opdusqusevif.

Zua piif vji sidioqv vu qsuwi zua qeof vjin. Vji 1099 vimmt vji OST vjev vjiz tjuamf ci siqusvoph xjev zua qeof vjin.

Upi nusi sami up vjot. E jepf-xsovvip sidioqv dep edvaemmz jasv zua nusi vjep jimq. Xjev zua esi fuoph xjip zua qez e tac ot tezoph vjev vjiz esip'v zuas inqmuzii. Vjev niept vjiz esi sappoph e catopitt.

Vjisi esi e xjumi tiv ug dupfovoupt vjev e qistup/dunqepz natv gummux vu ci e tacdupvsedvus. Tuni opdmafi:

• Fu zua hiv commif up mivvisjief/qsi-qsopvif opwuodit?
• Fu vjiz jewi e catopitt qjupi?
• Fu vjiz jewi e catopitt uggodi?
• Fu vjiz qsuwofi vjios uxp vuumt epf taqqmoit?
• Fu vjiz xusl apfis zuas dupvsum? (Puv huuf og vjiz fu.)
• Fu vjiz xusl gus uvjist?
• Fu vjiz gomi veyit gus vjios catopitt?
• Fu vjiz dessz optasepdi?

Emm vjiti vjopht qsuwi vjiz esi e catopitt, puv ep inqmuzii. Epf vjisi't e coh foggisipdi vu vji OST epf duasvt.

Og e catopitt fuitp'v qez ovt veyit, ov otp'v zuas geamv. Cav og ep inqmuzii xuslif gus zua epf zua fofp'v veli uav veyit, zua uxi vjin. Fovvu gus TT. Epf apinqmuzinipv. Epf nadj nusi.

Ov't pupi ug nz catopitt og vji haz qezt jot veyit us puv, us og ji't iwip gomif veyit op vji metv 20 ziest... jeje -- cav O'n dasouat ecuav vjot ottai -- cideati O jewi josif e muv ug tact uwis vji ziest, epf emm O ataemmz hiv esi sidioqvt. O.I. Up vji kuc O'n xusloph up sohjv pux, O atif Hesdoe Tvaddu gus e $1l kuc, epf emm O jewi vu qsuwi vjev O tqipv vjev nupiz ot e jepf xsovvip sidioqv gsun Kui Hesdoe. Teni vjoph gus 'Djieqis Vjep Fosv' vsetj jeamoph -- Jepfxsovvip qeqis sidioqv gus $600 cadlt.

Xjev't vji fotvopdvoup vjev zua jewi vu ati xjip ov dunit vu hivvoph e qeqis sidioqv, us ottaoph e 1099? Epzcufz lpux?

O'mm sap vjot cz nz edduapvepv vuu epf tii xjev tji vjoplt...

Djiist,

- Jelskel

 

[hatterasguy]

E muv ug vjuti hazt fup'v qez e muv ug veyit, vjevt xjev ji ot vszoph vu ewuof.

O xuamf hu xovj xjeviwis zuas edduapvepv tezt, xjz tjuamf zua tvodl zuas pidl uav gus tuni tac? Og vji edduapvepv tezt 1099 jon, fu tu, og ji cemlt vimm jon vuahj.