KrisD15
Expert Alumni

Deductions & credits

The program would trigger that when you indicate you are self-employed by filing Schedule C.

If you were paid with paychecks, and you received a W-2, you are an employee, not an independent contractor, for tax purposes. 

 

If you WERE an employee, but now work as an independent contractor, you need to file as "Self-Employed". You will report your income from form 1099-NEC (if you earned $600 or more). You can also report the income you received which was not reported on a tax form. Your W-2 income will still be treated as employee wages. 

 

As a Self-Employed Taxpayer, your profits will be subject to the Qualified Business Income Deduction. You will also be responsible for paying your own Self-Employment taxes, such as FICA (Social Security).   

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