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Retirement tax questions
Yes, you could enter it as other income. But, Assuming you want the income to count as earned income, for the Earned Income credit (EIC); you need to enter it as self employment. The easiest way is at the 1099-Misc screen. You do not need the payer's ("employer's") Employer ID Number (EIN).
Enter your income at the 1099-Misc screen (even if you didn't get a 1099-misc).
In TurboTax (TT), enter at:
- Federal Taxes tab
- Wages & Income
-Scroll down to:
- Other Common Income
-Income from Form 1099-Misc
When asked why you got the 1099-Misc, select “Freelancer or Independent contractor”
The
IRS considers undocumented cash income (no W-2 or 1099-MISC), for work
performed, to be self employment income. If the amount was less than $433, you will not be subject to social security tax