Ask Jillian - Tax Q&A02.03.14
Today’s post comes from Tax Pro Jillian Johnson, who you might recognize from some of our TV commercials this year. Jillian is answering questions submitted by you, our social media fans and followers. We hope you’ll find the answers useful!
I have paperless W2's. Do I need to print them off before I
come in to file my return?
Teresa S., Hanover, PA
Hey Teresa, you may be able to get your W-2 online. If you
can, we may be able to download your W-2 in our office; you can search to see
if your W-2 is available online at JacksonHewitt.com. If your W-2 is not
available for download, your Jackson Hewitt Tax Pro can help you print your
W-2s in the office if you are unable to print them before coming in. Just find
the nearest location and give them a call. Tell them Jillian sent you!
I own a couple residential rental properties. I paid a
plumber about $800 to do some repairs. Do I have to give the plumber a Form
1099-Misc? There is much conflicting information out there!
Dennis A., Janesville
Dennis, I’m so glad you asked – it can be confusing to
figure out who needs a Form 1099-MISC.
In your case, if you pay anyone over $600 for a service, then yes, you
must provide them with a Form 1099-MISC and have it postmarked by the 31st of
January. This form can be filled out and
printed on IRS.gov – here’s the link.
Once you complete that, then you send a copy to your plumber and another
copy to the IRS, along with Form 1096,
which the IRS will use to verify that you issued the Form 1099-MISC your
plumber reports. For help with this and any other questions, contact your local
Jackson Hewitt Tax Pro.
In June of 2013, I adopted 2 of my 3 grandchildren. I
received a government supplement for these children due to them being in the
court system (Child Protective Services) of $600 a month per child for boarding
care. It was explained to me by the adoption specialist, who worked for CPS,
that after adoption the boarding care would continue but would become income
for me instead of boarding care. I still receive this money but no taxes are
taken out of it. This money is held against me as income for any state help (food
stamps, clothing vouchers, home heating energy assistance) that I receive. Can
I claim this money on my 2013 income taxes and how would I do that? I know that
a 1099 would have to be filled out or received but do not know how to go about
Elizabeth P., Logan, WV
Elizabeth – First, congratulations on being the best
grandmother in the world right now!You’re right to ask about this - there are
many different types of payments available as adoption subsidies and each type
of subsidy is handled differently for taxes.Some are nontaxable, some are
partially taxable, and some are fully taxable, and until a tax pro sees exactly
what type you are getting, it’s impossible to say how much – if any – of this
income will be taxable. The income you
are receiving can also impact the amount of Earned Income Tax Credit (EITC) if
some part of it is taxable. As for
getting that 1099, it also depends on what type of adoption subsidy you are
receiving. Swing by your local Jackson
Hewitt office so a Tax Pro can help determine how your individual situation.