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"When you are ready,
select a scenario to begin"
~Tina the Tax Tutor
In this simulation, you will take on the role of Rita A. Bentley and James King in order to learn how to claim self-employment income.
Rita Bentley (Sim 14A) Using Form 1099-INT to Complete Schedule C, Schedule SE, and Form 1040 In this simulation, you will take on the role of Rita A. Bentley in order to learn how to claim self-employment income. |
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James King (Sim 14B) Using Form 1099-NEC to Complete Schedule C, Schedule SE, and Form 1040 In this simulation, you will take on the role of James King in order to learn how to claim self-employment income. |
Using Form 1099-INT to Complete Schedule C, Schedule SE, and Form 1040
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You are a full-time high school student. After school and on weekends, you take care of pets while their owners are traveling. You are not an employee. You are correctly classified as an independent contractor. It's the last day of the year. You earned $1,700.00 by walking dogs as well as by feeding various pets, including dogs, cats, and birds. You have receipts for all of the business expenses. Supplies, including dog treats, plastic bags, collars, and leashes: $40.00 Notebook to track income and expenses: $5.00 You deposit your earnings in a savings account. You will use the money to pay for your college education. During the year you earned $54.00 of interest income on your savings. Your mother provided all of your support. To review your personal information, click My Profile. |
Using Form 1099-NEC to Complete Schedule C, Schedule SE, and Form 1040
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You are a full-time high school student. After school and on weekends, you provide lawn care services for your neighbors and for a local business. You are not an employee. You are correctly classified as an independent contractor. Your parents are very generous—they let you borrow their lawnmower. You buy the gasoline for the lawnmower. It's the last day of the year. You earned $650.00 for mowing lawns for your neighbors. You earned $900.00 for mowing the lawn for the local gas station. You received Form 1099-MISC from the owners of the gas station, showing the amount you were paid. To review your personal information, click My Profile. |