In 2021, I occasionally helped companies like GLG with some hourly consultation for their clients. I also did it with other similar companies and one of them issued a 1099-NEC form.
In total, I did only 6 hours in 2021 in 4 consultation sessions, so I would categorize it as "not regular and no continuity" and as very occasional services. According to TT instruction note for QBI:
"If you receive payment for a one-off or very occasional service, and you report this as other income rather than a self-employment or business activity, this would not be considered a qualified business"
So this sounds like I could report either as business/self employment or as "other income", correct?
Or I should report as business no matter what since I got a 1099-NEC?
It just seems weird to report $1,000 something income as a business and with no deduction at all. TT also states that risk of getting audit is 3x more when a tax return has a Schedule C. This would be the first time for me including a Schedule C too.
Thanks in advance.
