MargaretL
Expert Alumni

Get your taxes done using TurboTax

You are correct that that statement is not binding in any way. If the IRS ever audits your return or asks for additional information, it will be your bank statements and form 1099-Misc. So...do use your bank statements, enter gross income received not reported on 1099-Misc, then enter your 1099-misc; follow the entries by your expenses to arrive at your net income subject to self-employment tax.