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I was given a 1099-MISC form for my internship in the summer. When I put it in it kept acting as if it were my business, but I was an intern. It told me I owe more money than I made as a whole the ent

 
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JulieR
Expert Alumni

I was given a 1099-MISC form for my internship in the summer. When I put it in it kept acting as if it were my business, but I was an intern. It told me I owe more money than I made as a whole the ent

Income reported on line 7 - Nonemployee Compensation of Form 1099-Misc is categorized as income from self-employment and must be reported on Schedule C of your return.  You will pay income tax at your regular rate and in addition, net Self-employment income of $400 or more is subject to self-employment tax at 15.3%. 

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