Self employed
Yes, Oregon employees contribute to Paid Leave Oregon through payroll deductions, paying 60% of the total 1% contribution rate of their gross wages, up to a maximum wage of $168,600 in 2024.
Based on this information, you must determine if you actually paid into this plan with an amount higher than the amount you actually received. If you used up all of your premiums paid, then you would report the balance. This is something you would calculate from your pay stubs (year to date payments for your last pay stub in 2024 should provide the amount paid in 2024 in full).
Report the income using your 1099-MISC, including the federal withholding. Once you have calculated the amount that would be tax free based on the premiums you paid, you can subtract that from your income using the steps below. Watch the questions below for assistance:
It's important for you to select 'None of these apply" and then you should also select the following:
'No' on the screen 'Did the '____' involve work that's like your main job?'
'No' on the screen 'Did the '____' involve an intent to earn money?'
This will report the income without any business activity and it will show up on Form 1040, Line 8 (From Schedule 1, Line 8z).
Other Miscellaneous Income:
- Sign into your TurboTax Online account
- Go to Tax Home (left panel) Wages and Income section
- Scroll to Less Common Income > Select Miscellaneous Income, 1099-A, 1099-C
- Select Other reportable Income > Enter a description (----) and the amount as a negative (-50 as example)
