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Business & farm
Hi, I received a signing bonus from my recruiter in 2020, which was reported on 1099-NEC (no tax withheld). The amount is in box 1 and all other boxes including "state income" box are blank. None of the scenarios described on the program for this payment seems to apply (not from a farm or sporadic activity or should have been included on W-2). Does this mean I need to create a Schedule C "business" and file Schedule SE even though I don't have a new business? Also, would I report this as 100% NY source income because the recruiter and my new employer are in NY (even though state income box is blank)?
May 3, 2021
9:40 AM