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Old 04-06-2009, 07:36 PM
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Business Expenses how they relate to W2 statutory employee and 1099 income

I am in the insurance and investment sales business. I receive some income via W2 as a statutory employee and some as 1099. They are all related to the same business. Of course I must file 2 Schedule C's one for the W2 and one for all 1099's. Do I have to put expenses on the schedule C proportionately based on the level of W2 vs. 1099 income, or if I have adequate expenses to zero out the 1099 and the add the remaining expenses on the W2 is this acceptable. I would only consider this since both incomes are for the same business. If the 1099 was for a different business, I know that this would not be acceptable.



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