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How do I file my taxes???

Hello, I have a question regarding taxes. I am preparing my taxes and this is my first year as a rover sitter. Ive made over 6k and Im wondering how I should file??? Ive narrowed down that I have to file a schedule C as a business owner, but do I file my income as a 1099MISC or a 1099K?

I get the money earned from rover through paypal. So being that my income is obtained through paypal, should I file a 1099k? Im so confused. On turbo tax, it won't let me input a 1099MISC unless I received one, which I did not. Please help.

In addition, all of the ROver money I made sat there until the end of the year. I transferred all of the money I made into paypal at the on January 7th. Being that I initially made the money in 2015, does it matter that I transferred the money into paypal in 2016? HELPPP!!!! :)

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Cari C.

The 1099 is issued by the employer, you don't issue one or file it with your tax return.

It depends on your method of accounting as to how you report and pay taxes on your income. Most people use the cash method, in which you report all income received and all expenses paid in the calendar year (for example, 2015). Go to irs.gov for more information on that topic.

It does not matter when you transferred money to Paypal, the main thing is when you actually earned and received it. Under the cash accounting method, if they paid you in 2015 you report it on your 2015 return.

Schedule C is the way to report your income and expenses for dog sitting. Be sure to report all expenses you incurred for your business, such as poop bags, ID tags, mileage if you are a visiting sitter, etc. For mileage you must have documented it during the year. The IRS publication on Schedule C explains everything.

Be aware that you will be charged self employment tax to cover federal income tax, Medicare etc that is usually taken out of a regular salaried paycheck. Since you made over $6K I would strongly recommend paying estimated quarterly taxes in 2016 to avoid penalties and a big tax bill next year.

i've been working as an independent contractor (which we as Rover sitters are considered for tax purposes) for almost 10 years (other work, not pet sitting) so I'm very familiar with the Schedule C. I offer my advice as just that, advice, not professional guidance or legally binding information. For details, it's always best to consutl a tax professional.