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February 15, 2019
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Corrected 1099MISC after filing

  • February 15, 2019
  • 1 reply
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I received a corrected 1099misc that moved income from box 7 to box 3 after I filed.  The amounts are the same will this change the way the income is treated on my return - basically could I end up owing more tax?

Best answer by PaulaM

It may change the way the income is treated depending on what the income was issued for. Box 7 nonemployee compensation flows through a schedule C and self-employment tax is paid on the net income. So if your new box 3 income is not self-employment involved, then you may benefit from amending to receive self-employment taxes back.

1 reply

PaulaMAlumni - ExpertAnswer
Alumni - Expert
February 15, 2019

It may change the way the income is treated depending on what the income was issued for. Box 7 nonemployee compensation flows through a schedule C and self-employment tax is paid on the net income. So if your new box 3 income is not self-employment involved, then you may benefit from amending to receive self-employment taxes back.

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