Tax questions

April 12, 1999

Members of the Maryland Association of Certified Public Accountants are answering readers' tax questions through Thursday.

The week after my husband and I filed our taxes, a woman I did some consulting for sent me a miscellaneous income form stating that I earned $800. I had totally forgotten about it. What do I have to do?

You will need to amend your federal and Maryland returns to claim the $800 as income. Remember to claim any associated expense against the $800 of income. Complete Schedule C or Schedule C-EZ, as well as Schedule SE if the net income exceeds $400. You should try to file by April 15, 1999, to avoid interest and penalty assessments.

James Wilhelm, CPA, Koehler, Sparks & Hammond

The above advice is for general purposes only and is not intended as legal, accounting or tax advice. Specific situations may vary.

To ask a tax question, call Sundial, The Sun's telephone information service, at 410-783-1800. Call 410-268-7736 in Anne Arundel County, 410-836-5028 in Harford County, 410-848-0338 in Carroll County. Using a Touch-Tone phone, punch in the four-digit code 6225 after the greeting. To submit questions by e-mail and access an online tax guide, go to The Sun's Web site at www.sunspot.net/tax.

Selected questions will be answered in the Business section. No questions will be answered personally.

Pub Date: 4/12/99

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