I worked full time in 2019 in health care, part time musician; received 1099 for several jobs, and divided money from each job four ways to the other musicians. So 1099 does not accurately reflect my income; should I file Schedule C? I fear it may be an error to list only 1/4 of 1099 earnings. Please advise.
You'll need to sign in or create an account to connect with an expert.
Yes, you should file a Schedule C reporting all of the income on the Form 1099-MISC. Then, you will include a business expense for contract labor to account for the money that you paid the other musicians. That way, you are only being taxed on your portion of the income.
The other musicians are responsible for reporting and paying taxes on their portions. If the amount you paid each one exceeded $600, then you are technically responsible for issuing them a Form 1099-MISC for their portions.
Yes, you should file a Schedule C reporting all of the income on the Form 1099-MISC. Then, you will include a business expense for contract labor to account for the money that you paid the other musicians. That way, you are only being taxed on your portion of the income.
The other musicians are responsible for reporting and paying taxes on their portions. If the amount you paid each one exceeded $600, then you are technically responsible for issuing them a Form 1099-MISC for their portions.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
jadaadams44
Returning Member
KausBose
New Member
knownoise
Returning Member
jadaadams44
Returning Member
KarenL
Employee Tax Expert
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.