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1099-Misc for business payment
My wife has her own esthetics business and we use schedule C. Part of her income came from working as an independent contractor under another day spa business. Therefore, she received a 1099-Misc from that business. Should that income be reported under the Personal Income section or should it be reported on the Schedule C as business income? Reporting it as personal income puts the business in the loss category on the schedule C.
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1099-Misc for business payment
You ONLY report business Income in the Business section of the program on Schedule C.
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1099-Misc for business payment
Thank you. I found the place to enter the 1099 Misc income on schedule C.
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1099-Misc for business payment
A tax year 2019 Form 1099-MISC with an amount in box 7 is self-employment income. Period. If the amount is in box 3 then its probably still self-employment income. If you claim it's not self-employment income then the program will ask you more questions to verify your claim. You only risk audit on this if you claim box 3 income is not self-employment income for more than 3 years in a row.
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