In contrasting the reporting procedures of employees and self-employed persons regarding job-related transactions, which of the following items involve self-employed?
A)Schedule C of Form 1040.
B)Form 2106.
C)Form W-2.
D)Schedule A of Form 1040.
E)None of the above.

Question

Quizplus · Accepted Answer

Schedule C of Form 1040 is used by self-employed persons to report their business income and expenses. Form 2106 is used by employees to claim business expenses related to their job. Form W-2 is a form provided to employees by their employer showing their earnings and withholdings for the year. Schedule A of Form 1040 is used to claim itemized deductions, such as mortgage interest and charitable contributions, and is not directly related to job-related transactions for either employees or self-employed persons.

In Contrasting the Reporting Procedures of Employees and Self-Employed Persons