When notaries email or call me for help on their taxes, I send them to IRS.gov. I agree with answers in this thread, but why depend on another notary to provide answers. Go to the source....
All questions in the entire universe about your INCOME TAXES are duly answered there or you can find direction at http://www.irs.gov - that is the office IRS website. It is a good one to book mark this time of year.
When you get there - Look...they have a search feature...I just put in "notary"
http://search.irs.gov/web/query.html?col=allirs&charset=utf-8&qp=&qs=-Wct%3A%22Internal+Revenue+Manual%22&qc=&qm=0&rf=0&oq=&qt=notary
Many hits came up and I read them. Interesting reading...I searched again on NOTARY INCOME. This link came up in the list...
http://www.irs.gov/publications/p17/ch12.html#d0e31987
CLICK ON THE ABOVE LINK AND YOU WILL FIND OFFICIAL ANSWERS, in the section with OTHER INCOME. NOTARY income is going to be found with OTHER INCOME.
From that page:
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Corporate director. Corporate director fees are self-employment income. Report these payments on Schedule C or Schedule C-EZ (Form 1040).
Personal representatives. All personal representatives must include in their gross income fees paid to them from an estate. If you are not in the trade or business of being an executor (for instance, you are the executor of a friend's or relative's estate), report these fees on Form 1040, line 21. If you are in the trade or business of being an executor, report these fees as self-employment income on Schedule C or Schedule C-EZ (Form 1040). The fee is not includible in income if it is waived.
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Notary public. Report payments for these services on Schedule C or Schedule C-EZ (Form 1040). These payments are not subject to self-employment tax. (See the separate instructions for Schedule SE (Form 1040) for details.)
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Election precinct official. You should receive a Form W-2 showing payments for services performed as an election official or election worker. Report these payments on line 7 of Form 1040 or Form 1040A or on line 1 of Form 1040EZ.
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Good luck...a nice copy of Turbo Tax drives me right through my taxes like a pro. You can do it...piece of cake. |
