It isn’t my “business,” but rather an independent contractor type situation and I’ll get a 1099-misc here at the end of the year from the company I’m doing this for.
Just to clarify things here. The IRS will disagree with that comment and you will lose. It "is" a business, and you own it. For the purposes of that income, as far as the IRS is concerned you are self-employed and "in business" for yourself. At it's lowest denominator, you are a sole proprietor and your business is a sole proprietorship. All business income and expenses will be reported on SCH C as a physical part of your personal 1040 tax return. It doesn't matter if you're filing a joint return either.
