MarilynG
Expert Alumni

Deductions & credits

Yes, income received on a 1099-Misc is taxable income.  However, since the amount  reported in Box 7 indicates you are a contract employee, you will need to report $1600 income and $1600 travel expenses as Self Employment income and expense on a Schedule C. 

You will end up with no taxable income.

This will flow through to your NY return also.




Edited 2/10/18 11:04 AM

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post