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Get your taxes done using TurboTax
1099-Misc income is taxable income, whether it is reported as Self-Employment or Other Income. The tax you paid on your 1099-Misc income is not necessarily refundable to you, depending on your total income, total tax due and total taxes paid.
One advantage of reporting 1099-Misc income as Self-Employment Income is that you can claim Expenses against the income, reducing your taxable income. You are not double-taxed; your 1099-Misc is only reported on your return once.
Click the link for info on correctly entering your 1099-Misc.
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‎January 27, 2020
11:04 AM