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Get your taxes done using TurboTax
If you were not self-employed, then you can report the 1099-Misc as "other income." Other income will appear on line 8 of your Form 1040 and you will pay tax on that income. In TurboTax online, to enter the 1099-Misc income amounts as other income, follow these steps.
- go to Income & Expenses,
- scroll down the page to the last item Less Common Income, select Miscellaneous income,
- then from the list select Other reportable income.
- you will have to enter the amount you earned plus a short description.
If you are using TurboTax Online, here are the steps to follow to preview your Form 1040 and see the amount on line 8:
Open or continue your return.
- Select Tax Tools in the left menu (if you don't see this, select the menu icon in the upper-left corner).
- With the Tax Tools menu open;
- Select Tools.
- Next, select View Tax Summary in the pop-up.
- Then Preview my 1040 in the left menu.
- Select Back in the left margin to return to the page where you left off
Regarding whether someone is self-employed or not, the IRS has stated the following:
- If you weren't an employee of the payer, where you report the income depends on whether your activity is a trade or business. You're in a self-employed trade or business if your primary purpose is to make a profit and your activity is regular and continuous.
Here is the link to the IRS webpage that discusses 1099-Misc, Independent Contractors and the Self Employed from which the above quote was obtained. You might find this information helpful.
1099 Misc, Independent Contractors and Self Employed
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