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Insurance agent won an insurance co. contest drawing for $5K and reported on a 1099-NEC as "Misc", do I owe SE tax? IRS inquiring about the $5K.
The 1099 total is $5,818. $5K was won in a drawing. The $818 was paid as incentive for policies sold. None of the $5,818 is commissions. It is extra contest winnings.
May 2, 2025
8:19 PM