I have a business (sole proprietorship) but I also worked part time for a company and I also go to a university. I am wondering if I have to file my business taxes separately from the income earned from my part time job? And, do I need to file my 1098-T separately?

ANSWER

Expert Thomas Graham iii's Answer:

You are actually able to file all that information on one return.  Due to the nature of your business, you are basically self employeed in the government's eyes and the income that the business makes is taxable to you.  You will also report wages you received from working at the other company part time (I'm assuming you received a 1099).  The 1098-T will also be filed with your personal return and can be used to get either a tax credit or deduction (whichever is more beneficial to you).

Thomas Graham iii, CPA, CFE

Oklahoma

7 yrs experience

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