I have a 1099-Misc, but it says I am "nonemployee compensation". Do I really have to pay for the Deluxe versions to file for this?

I don't even know if the amount of money I made from this job is worth paying for the Deluxe version!
ToddL
New Member

Get your taxes done using TurboTax

How much was the 1099-MISC for and did you have any expenses?

Get your taxes done using TurboTax

If you "worked" (provided a service) to get this money, then you need to report it on a schedule C and pay income and and self employment tax.  If you don't, the IRS will send a letter demanding payment of tax with interest and late fees.

To prepare a schedule C you must upgrade at a minimum to the Deluxe version.  If you have expenses, you need to upgrade to the self-employment version to deduct your job expenses.  Since you owe income tax and self-employment tax on the net profit (income minus expenses) you may want to consider whether the upgrade will pay off.

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