I'm having trouble with the 1099-Misc. My wife received a form for some small consulting/administrative work she did for a company she used to work at the year before. The amount was < $2,000. Instead of a W-2, of course they sent a 1099-MISC. When, I add the 1099-MISC info, I then start getting prompted later to enter my own business information. This is where I'm confused. For instance, it's asking me for: my business name ("Check the box at the top of the Schedule C to indicate the taxpayers name and business are the same)"
What does that mean? We just have additional income to claim that came in the form of a 1099 now. We didn't start our own new business.
Also, they ask us to enter:
Qualified business income -- which should be no
Accounting Method (Cash, Accrual, Other): Why do I have to enter an accounting method, and what should we choose?
Material Participation - only worked for about 2 months on the project, so "no."
Required to File 1099
I feel like this is being overly complicated for something straightforward as trying to claim additional income. Help would be appreciated.
