Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

On the annual accounting form there is only one Schedule A page for income. Do I report each separate receipt?

0
Posted

On the annual accounting form there is only one Schedule A page for income. Do I report each separate receipt?

0

Report income that is received on a regular basis and in the same amount such as social security income as 12 X $400 in the description column. The total $4,800.00 is listed in the total column. To report income that changes with each receipt, such as interest and dividends, provide the yearly amount and indicate in the description the number of times the interest or dividend was received during that year. For example, interest from a savings account received 12 times for a total of $200.00.

Related Questions

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.

Experts123