KrisD15
Expert Alumni

Business & farm

The IRS resurrected Form 1099-NEC (Non-Employee Compensation) to make it clear when income is being paid as Self-Employment income.

 

You can enter the amount as "Other Income" and bypass Self-Employment tax HOWEVER the IRS most likely WILL view this as Self-Employment income because, as you say, you did a "one time job".  No matter how many jobs you did, if the intent was to earn income, and you did not have an employer, you are responsible to act as the employer (as self-employed). In this capacity, you are responsible to pay the FICA (Social Security) tax that normally is withheld and submitted by an employer. 

 

When income is clearly not self-employment income, the payer should use 1099-MISC. 

 

Income not reported on a W-2 and also is not Self-Employment income would include things such as prize money and hobby income. 

 

@marketfan53

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