<p>My dad is an independent contractor. He gets paid by a company. He does not own his own company. Cornell and other schools require the Business/Farm supplement if self-employed (which he is according to the IRS). Do we really need to fill this out? If so, how do we fill it? Do we just put all zeroes?
We cannot contact the Cornell Financial Aid Office because of winter break. The Profile is due January 2.<br>
Thanks!</p>
<p>Does your father’s income get reported on a 1099? If so, that income would be reported on his taxes as self-employment income on Schedule C, and be included in his adjusted gross income on line 12 (business income) of his 1040. No need to file the business supplement in that case.</p>
<p>If he’s an independent contractor, even though it sounds like all of his jobs come from one company, he still “owns” his own business. As advised above, how he handles things for taxes is what matters. What the schools are looking for is business deductions the IRS allows, but they, in essence, don’t. Many independent contractors, for example, write off business expenses perfectly legal for tax purposes that the colleges want to add back to AGI.</p>
<p>So he would just answer the questions the form asks–how much he made, what his deductions were, etc.</p>