How to fill out a W9 for a scholarship Form

How to fill out a W9 for a scholarship Form: What You Should Know

Section 2. Enter any additional information that the company or person can find when they look it up in their system or on the internet. For box 2, type or write4. Addresses in the boxes should be as close as possible to your house.5. Section 3. Complete all remaining information in the section of section 2. You will also need to enter the date and a description of any income or expenses. Section 4. Type or write6. Boxes are for “income”—payroll deposits, child support, etc.7. Section 5. Any information you may need. This includes your organization's name, address, or the amount you received. 8. Schedule C. This box only needs to be filled in if you have more than one job. For this reason, if the person or company you are working for already has a W 9 form for you, it is typically enough. To use Section 5 to report income, fill in as a single person, enter the amount you received in any one job, and include the number of weeks during which you worked. To use Section 6 to report expenses, fill in as a single person, enter the amount of each expense, and include the number of weeks during which you met the expense. Any receipts should be labeled, “Deductions” or “Miscellaneous Expenses.” You can find that information under “Other Expenses.” For those under 18, Section 7 will not be required until you are 19 and have moved out of your parent's home. 3. How the IRS Calculates Your Income and Expenses Income/Expenses To calculate your income, you'll be asked to enter the amounts you paid on items such as rent, utilities, food, personal expenses, etc. The IRS considers these to be income for tax purposes. Example: Your total income for 2024 was 1,300. Your utilities were 70, and you spent 100 to heat your garage for the winter. Your total expenses for 2024 are: 100 for your gas heating system 70 for rent (400 to be exact) 25 for personal expenses (including 100 for your gas) You would have to make a deduction for your housing costs for 2011, leaving you with 1,100. The total deductions you would have to make for 2024 are 1,230.

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