I have a regular job as an academic and get a W2 form. Once this past year, I gave a lecture at another university and received an honorarium, and so I got a 1099-NEC for that. So I'm now being treated as self-employed by my own business, which is Education. This is fine, I guess, but I'm confused about how to describe my participation in my "business." I am a full-time educator, but the lecture for which I received the 1099-NEC was not full-time work. It was a one-off. So to the question of whether I "materially participate" in my business of Education, I'm guessing the answer is "no"? Although I materially participate in a job in education that gives me a W2, I do not materially participate in my self-employment education "business." Please confirm if this sounds right to you.
