any accountants out there that i can ask a question?

[churnbabychurn]

Anyone know if tuition paid reduces adjusted gross income?

It does not

[aryeh1]

It does not

Are you sure ? im looking at publication 17 pg 7 it shows :

3. Your adjustments to income are for only
the following items.
a. Educator expenses.
b. IRA deduction.
c. Student loan interest deduction.
d. Tuition and fees

[churnbabychurn]

Are you sure ? im looking at publication 17 pg 7 it shows :

3. Your adjustments to income are for only
the following items.
a. Educator expenses.
b. IRA deduction.
c. Student loan interest deduction.
d. Tuition and fees

Sorry my bad. I thought you were referring to regular school tuition like grade school.

There are definitely deductions for college education.

[aryeh1]

Sorry my bad. I thought you were referring to regular school tuition like grade school.

There are definitely deductions for college education.

Thanks
College/graduate school

But not the full amount correct? CMMIW but max is $4000?

[ckmk47]

There are tax credits for college tuition, too.

[chinagel]

what do i do if i didnt get any 1099s and i know i got bank bonuses, just dont remember from who

[ExGingi]

what do i do if i didnt get any 1099s and i know i got bank bonuses, just dont remember from who

It was suggested to me to wait a while and get a tax transcript. When I did that it seemed like no 1099s were issued.

[chinagel]

It was suggested to me to wait a while and get a tax transcript. When I did that it seemed like no 1099s were issued.

so basically i probably can forget it?

[A3]

It was suggested to me to wait a while and get a tax transcript. When I did that it seemed like no 1099s were issued.

Tax transcript is not the same as an earnings and wage transcript.

[ExGingi]

Tax transcript is not the same as an earnings and wage transcript.

I probably got the exact terminology wrong.

There is a transcript that is supposed to show all W2s and 1099s issued (also K-1s?).

[Jack out of the box]

Anyone know if tuition paid reduces adjusted gross income?

https://www.irs.gov/uac/tax-benefits-for-education-information-center

[mahnishma]

Anyone know answer: i Booked an airline ticket for a company , they paid me for it, now they say they're supposed to issue me a 1099, anyone know if this is correct?

[ckmk47]

Anyone know answer: i Booked an airline ticket for a company , they paid me for it, now they say they're supposed to issue me a 1099, anyone know if this is correct?

Sounds wrong to me.
If you sold them a ticket, give them a sales receipt. Then the income on sales is your problem.
If they reimbursed you (approximately) the cost of a ticket, it's a wash - not income for you.

[A3]

Anyone know answer: i Booked an airline ticket for a company , they paid me for it, now they say they're supposed to issue me a 1099, anyone know if this is correct?

They paid you... Not the airline. I don't believe this would fall in to reimburse expenses. They paid you as a travel agent.
If you made income on the deal it's reportable. If you lost money, report the loss. (Allocate expenses)

[Jack out of the box]

Anyone know answer: i Booked an airline ticket for a company , they paid me for it, now they say they're supposed to issue me a 1099, anyone know if this is correct?

Doesn't sound like a 1099 issue. If anything maybe just for the upsale on the ticket but I doubt you're talking about $600 in a year.

[Menachem613]

Sounds right.  Pick up the income and show a corresponding expense for your cost. 

[mahnishma]

Sounds right.  Pick up the income and show a corresponding expense for your cost.

How much of that can be taken off,  what percentage of 1099s can be taken off for expenses ?

[ckmk47]

How much of that can be taken off,  what percentage of 1099s can be taken off for expenses ?

When you have 1099 income, you can file a ?schedule C? that has place to deduct business expenses.

[mahnishma]

When you have 1099 income, you can file a ?schedule C? that has place to deduct business expenses.

But in my situation,  how much can be taken off for a ticket i booked?

[A3]

But in my situation,  how much can be taken off for a ticket i booked?

The cost of the ticket. (COGS)
Computer expenses...
Did you drive to the office? Auto expenses...