I'm retired but still get residual renewals from insurance products I sold while working. It's on a 1099MISC. Do I still have to report this as self employment income?

 
PaulaM
Expert Alumni

Get your taxes done using TurboTax

You can report this on line 21 of your 1040 and not as self-employment income. To report on line 21, select Wages & Income, Less Common Income, Miscellaneous Income

Then select Other reportable income to enter a description and amount. The income will be listed on line 21, but you won't have self-employment taxes.

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