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Side Job Money

Forum|Forum|2 years ago
October 25, 2023
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I did some work for a non-profit and provided an invoice for the supplies I purchased (reimbursement), about $1000. I also charged about $100 labor. They have to issue me a 1099 since they paid me over $600.

What do I need to do on my taxes for 2023? Must I claim supplies and funds received? I'm assuming it would only be $100 additional income.

Thank you

Ask the Experts - Extension - Sept 2023

Best answer by AmitaR

Hello Whoa,

Thanks for joining us today!

If they report the full $1,100 on the 1099, you may take the deduction for $1,000 you spent on the supplies. Save your receipts. Your net income in this case is $100 taxable, assuming you don't have any other expenses.

A

AmitaRAnswer

Hello Whoa,

Thanks for joining us today!

If they report the full $1,100 on the 1099, you may take the deduction for $1,000 you spent on the supplies. Save your receipts. Your net income in this case is $100 taxable, assuming you don't have any other expenses.

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