DianeW777
Expert Alumni

Get your taxes done using TurboTax

The question refers to you performing a service with the intent to earn money.  It is not referring to your money or securities being used to earn 'unearned' income/money.  This is the difference and I can see how it may seem unclear.

 

If the questions are answered as our awesome Tax Expert @JohnB5677 indicated, it does eliminate self employment income and thereby eliminates self employment tax which is not required in your situation.

 

The Form 1099-NEC has replaced the Form 1099-MISC for the moment (it happened in the past for a moment).  This is the reason for the questions to help you report it in the proper place.

 

Please update here if we can further assist you.

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