KrisD15
Expert Alumni

After you file

Yes,

 

Income on a 1099-NEC COULD be miscellaneous income and entered as personal income, Schedule 1 line 8

(although that's why the IRS brought back the 1099-NEC Non-Employee Compensation, so it was clear that this was reporting Self-Employment income)

 

but you said it was Self-Employment income.

 

As such, it is reported on Schedule C and flows to Schedule 1 line 3.

 

The main concern is that when earned income is reported on a W-2, the Employer withheld and paid the Employee's FICA (Social Security) tax.

 

When you are Self-Employed, YOU pay that FICA tax by way of the 1040. 

 

Therefore, although your income may be below the Standard Deduction, you will still need to pay that Self-Employment tax. 

 

You do NOT report the income on Schedule C and then again anywhere else on your return. 

 

 

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