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Deductions & credits
@sbanbahj wrote:
so they issued A CORRECTED 1099nec that says nothing in box 1. do i still file it w my other income?how do i proceed
The only difference is that you ignore the last 3 paragraphs of my instructions. You must still report the total housing allowance amount as a housing allowance and pay self-employment tax. Even though the housing allowance is exempt from income tax, it is not exempt from self-employment tax.
You should read this
https://www.irs.gov/forms-pubs/about-publication-517
and this
https://www.ecfa.org/ProductDownload.aspx?ProductID=361
(ECFA is a good organization, your denomination may arleady have a membership, if not, it's worth registering.)
‎February 6, 2024
8:30 AM