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13 March, 20:27

Laura is self-employed. She received a Form 1099-MISC from one of the firms for which she performed services, reporting $24,600 in non-employee compensation. The other firm for which she worked on a contractual basis did not send her any documentation reporting the $400 they paid her. Without taking her expenses into account, how much income must Laura report from self-employment activities?

a. $25,000

b. $24,600

c. $400

d. $0

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  1. 13 March, 21:26
    0
    correct option is a. $25,000

    Explanation:

    given data

    Form 1099-MISC = $24,600

    other firm = $400

    solution

    we get here Laura income report under Self employed that is express as

    Laura income report under Self employed = total income of (Form 1099-MISC + other firm) ... 1

    here we Form 1099 MISC receipt so her income will be treat as self employed income

    so put here value we get

    Laura income report under Self employed = $24,600 + $400

    Laura income report under Self employed = $25000

    so correct option is a. $25,000
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