Simple question about 1040ez

Schedule C-EZ

Ummmm no. It's not business related.


OP, Put it on line 2.

Yes 2

Unless its a 1099-misc, then no. You cant file an EZ with a misc (see http://www.irs.gov/instructions/i...tml#d0e625 few scrolls down to source documents and where to enter on an EZ). Thought I heard those were going out as 1099-misc "other income" box. But, Ive been wrong before.

Unlike credit card rewards, you will have to pay taxes on bonuses associated with new bank accounts (be it checking accounts or certificates of deposit). This applies to both cash bonuses and gifts. They may not make it extremely clear with the offer, but it’s always embedded somewhere in the fine print. Most banks will issue a 1099-INT for the cash bonus and if the bonus happens to be a product they’ll issue the same form for the retail value of the item. The exact amount of taxes you’ll need to pay on your reward isn’t always consistent though because the 1099-INT is essentially treated as bank interest. So the amount you’ll own Uncle Sam is entirely based on your individual income tax rate.