JohnB5677
Expert Alumni

Get your taxes done using TurboTax

Do you get a W-2, or a 1099-NEC or 1099-MISC.

 

  • If the job was for W-2 income, then the expenses are no longer deductible.
  • If you receive a 1099 you will file a schedule C (self employment tax form) that represents a business.
    • You may then deduct some of those expenses.
    • However, if you are self employed you will have to pay self employment tax
    • The self-employment tax rate is 15.3%. That rate is the sum of 12.4% for Social Security and 2.9% for Medicare.
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