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Form 1099 Misc-Auto Allowance
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john doe
Mar 27, 2002, 5:17:48 AM3/27/02
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Taxpayer received a W-2 and also receives a 1099 Misc. for
$7100.00 for Automobile Allowance. The expenses for this
auto on milage is approx $4500.00. Any help on how to
handle this 1099 Misc for the Automobile.
$7100.00 for Automobile Allowance. The expenses for this
auto on milage is approx $4500.00. Any help on how to
handle this 1099 Misc for the Automobile.
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Robert A Moore
Mar 29, 2002, 7:22:48 AM3/29/02
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"john doe" <an...@host.com> wrote:
> Taxpayer received a W-2 and also receives a 1099 Misc. for
> $7100.00 for Automobile Allowance. The expenses for this
> auto on milage is approx $4500.00. Any help on how to
> handle this 1099 Misc for the Automobile.
Use Form 2106. Enter the 1099 amount in Box 7 of the 2106.
Compute the allowable deduction for employee vehicle
expense. The excess will flow to Line 7, Form 1040 as
taxable compensation.
Robert A Moore, EA
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