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    #1

    recycling

    Client is a w-2 employee of a concrete company. He also has a side business. He has a tractor and a dump trailer that he rents out.

    He also does recycling of metal materials and made about 1400.00 last year on recycling. This is not material he buys, I think it is materials he picks up at job sites that are part of the trash piles.

    I consider this line 21 income. It is not really part of his schedule C income. It is derived from renting the tractor.

    Is this where you would put it on the tax return?

    Linda
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    #2
    Originally posted by oceanlovin'ea View Post
    Client is a w-2 employee of a concrete company. He also has a side business. He has a tractor and a dump trailer that he rents out.

    He also does recycling of metal materials and made about 1400.00 last year on recycling. This is not material he buys, I think it is materials he picks up at job sites that are part of the trash piles.

    I consider this line 21 income. It is not really part of his schedule C income. It is derived from renting the tractor.

    Is this where you would put it on the tax return?

    Linda
    I had the same situation this year, only my client made $22,000 picking up materials from
    construction sites, then taking the material home to sort out for recycling. I put this on
    schedule C, with mileage expense using his truck.

    Comment

      #3
      I would definately consider this Sch C income subject to SE.
      You have the right to remain silent. Anything you say will be misquoted, then used against you.

      Comment

        #4
        talked to client

        It was a one time thing. He was on a job for his employer and they were going to throw away some copper. So he took to a recycling center and made some money.

        I think that would qualify for other income.

        Linda

        Comment

          #5
          Originally posted by oceanlovin'ea View Post
          He also does recycling of metal materials and made about 1400.00 last year on recycling. This is not material he buys, I think it is materials he picks up at job sites that are part of the trash piles.

          Linda
          Linda,

          This is not meant to pick on you, just to clarify. In your first post, you say he "does recycling of metal materials" which would indicate an ongoing operation, but in the last post you say "it was a one time deal". To me these are contradictory and would change the thinking of how to handle.

          LT
          Only in government or politics is a "cut in spending" really an increase. It's just not as much of an increase as they wanted it to be, therefore a "cut".

          Comment

            #6
            When I spoke to his wife and asked about the recycling, she explained to me that he did this on one job site.
            He does NOT do it regularly. I was mistaken....Just got my wires crossed. It wasn't on last year's return either.

            So just one time.

            Linda

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