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Wed Feb 13, 2019, 08:48am
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Tax man cometh
Just curious what others are doing with this new line for 2018. I'm trying to figure out IRS Form 1040, line 9. I glanced through Publication 535 as well.
Are other people deducting 20% of their officiating income on Line 9? And by income, I'm going to assume I should use Schedule C-EZ, line 3, and figure 20% of that. 
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Thu Feb 14, 2019, 09:54pm
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I know taxpayers won't get a §199-A deduction if their self-employed insurance premiums are equal to or greater than their Net Schedule C income.
For anyone using tax software, the program should handle this deduction automatically.
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"Be kind whenever possible. It is always possible." – Dalai Lama The center of attention as the lead & trail. – me Games officiated: 525 Basketball · 76 Softball · 16 Baseball
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Mon Feb 25, 2019, 11:42am
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I read through the instructions and boy does my brain hurt. Bur from what I could decipher is that officiating income is not Qualified Business Income because income from athletics is an exception to the Qualified Businesses.
MTD, Sr.
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Mark T. DeNucci, Sr. Trumbull Co. (Warren, Ohio) Bkb. Off. Assn. Wood Co. (Bowling Green, Ohio) Bkb. Off. Assn. Ohio Assn. of Basketball Officials International Assn. of Approved Bkb. Officials Ohio High School Athletic Association Toledo, Ohio
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Mon Feb 25, 2019, 04:14pm
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But, I think that exception only applies if "a taxpayer’s taxable income exceeds $315,000 for a married couple filing a joint return, or $157,500 for all other taxpayers". You are doing better than me if you had to apply that exception.
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Sat Mar 16, 2019, 03:30pm
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Quote:
That said, between mileage, flights, laundry, registration fees, and uniform purchases, over 80% of my umpiring money got expensed. I'll have to look into this gig and see if I actually make anything next year. 
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Powder blue since 1998. Longtime forum lurker. Umpiring Goals: Call the knee strike accurately (getting the low pitch since 2017)/NCAA D1 postseason/ISF-WBSC Certification/Nat'l Indicator Fraternity(completed) "I'm gonna call it ASA for the foreseeable future. You all know what I mean."
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Tue Mar 19, 2019, 10:38pm
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Quote:
I used NAICS Code 711219. That appears to be the current one for referees and umpires.
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"Be kind whenever possible. It is always possible." – Dalai Lama The center of attention as the lead & trail. – me Games officiated: 525 Basketball · 76 Softball · 16 Baseball
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Tue Mar 19, 2019, 11:59pm
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Quote:
Are you talking about Line B? If you are a betting code is: 541990 MTD, Sr.
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Mark T. DeNucci, Sr. Trumbull Co. (Warren, Ohio) Bkb. Off. Assn. Wood Co. (Bowling Green, Ohio) Bkb. Off. Assn. Ohio Assn. of Basketball Officials International Assn. of Approved Bkb. Officials Ohio High School Athletic Association Toledo, Ohio
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