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Business & farm
Yes. You must pay Medicare and Social Security Tax on income earned. The IRS collects it for them on Form SE for the self-employed. Your self-employment tax is calculated at 15.3% on 92.35% of your 1099 net income and also subject to income tax.
For $1830, that is $259.
The Social Security Administration wants to make sure you get credit for working towards your social security and will add these earnings to your regular job earnings for an increased benefit.
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‎February 10, 2023
2:55 PM