How do I report 1099-K income?

You need to file Schedule C if you earned income from your sole proprietorship (owned your own business, not a partnership or corporation), received a W-2 showing wages and expenses as a statutory employee, received income and deductions from qualified joint ventures, or if you received a 1099-MISC showing earnings in Box 7, or if you recieve a 1099-K Payment Card and Third Party Network [...]

Reporting Foreign Income and claiming Foreign Income Exclusion

Overview: If you are a U.S. citizen or a resident alien of the United States and you live abroad, you are taxed on your worldwide income. However, for US tax purposes, you may qualify to exclude from your income up to the foreign earned income exclusion amount for that tax year. In addition, you may be able to exclude or deduct a portion of certain foreign housing expenses. Qualifications for [...]

How Do I Enter The Income I Earned as a Minister?

How to file Income Tax for Minister, Member of the Clergy and Religious Worker, As a minister who worked for your church employer, you should receive a W-2 from your church employer. You may also receive housing allowance or parsonage and self-employment income from performing wedding, baptism, and other offering. The following steps will get you started in preparing your income tax return [...]

Colorado Innovative Motor Vehicle and Innovative Truck Credits for Tax Years 2017-2021

Colorado allows innovative motor vehicle and innovative truck credits for the purchase, lease, or conversion of motor vehicles, trucks, and trailers that use certain alternative fuels. A motor vehicle, truck, or trailer must be titled and registered in Colorado to qualify for the credit. The credit is refundable; to the extent that the amount of the credit exceeds tax, the excess credit is [...]

What is the Colorado Rural Technology Enterprise Zone Credit?

This credit is available as a carryforward only to those who have claimed the credit during income tax years ending on or after March 30, 2001 and beginning prior to January 1, 2005 any taxpayer that makes a qualified capital investment in technology infrastructure in Rural Technology Enterprise Zones may claim an income tax credit of 10 percent of the total investment made during the year. [...]