IsabellaG
Expert Alumni

Retirement tax questions

If you are asking how much taxes were withheld from your 1099, you will see that right on your form. If you received a 1099-MISC, the amount of taxes withheld is shown in box 4. It's not common to have any tax withheld from 1099 income, but if you requested withholding, it would show on the form.

If you are asking how much more tax you are paying because you have a 1099, I can only say that the income is added to the rest of your taxable income, and you pay tax on it based on the tax rate for your total taxable income. 

Plus, if it's a 1099-MISC, you will pay Self-Employment Tax (Social Security and Medicare), which is 15.3% of your net self-employment income.

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