The
IRS considers anything in box
7 of 1099-MISC to be self employment income. Enter the 1099-Misc
income, at Other Common income / income from a 1099-MISC . TurboTax (TT) will
complete Schedule C or C-EZ for you and allow you to deduct any expenses associated
with this income. You'll also have to pay self employment tax (social security
& Medicare) on any profits greater than $400.
If the side job is unrelated to your regular work, then These types of payments are
frequently done this way. Your "employer" is not the only one.
