03-31-2009
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Member
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Join Date: Apr 2007
Location: SE Pennsylvania
Posts: 59
Rep Power: 6
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Tax preparation
This question is for those boat owners who keep their boat in a charter fleet.
I've been working on my 2008 tax return using TurboTax. I figured I'd be OK since I was using respercted tax preparation software. Well, it turns out that Turbo Tax want's to enter my income from the 1099 on schedule E and expences on schedule C. This got me doing some researching but I'm still not sure which schedule I should use. How do you folks enter your income and expences, Schedule C or Schedule E? Has anyone out there been audited and do you have any advise to offer the rest of us?
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