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Retirement tax questions
I agree with VolvoGirl however this additional information may be of value to you.
You can report this as other income and not be required to complete a Schedule C. However, if you have expenses it's likely it will be a benefit to complete a Schedule C.
Note:
You usually owe taxes on any income you earn. But because self-employment tax wasn't withheld when you were paid for this work, you now owe that tax as well.
To report this as Other Income-
In TurboTax go to:
1. Personal Income
2. Other Common Income
3. Income from 1099-NEC
4. Check No, I don't have expenses related to this income
5. follow the prompts and it will be entered as other income.
March 15, 2021
2:48 PM