I won $150,000 on a gameshow this year. I’m getting a 1099-misc in February and I’m having trouble understanding how much I will pay in taxes. I expect the $150,000 to be added to the money I earned this year and move me to a higher tax bracket. But will I have to pay extra on top because the 1099-misc means I’m an “independent contractor” and have to pay an extra 15.3% for social security. Any advice would be helpful I can’t find any consistant info.
