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NEC
I am a VOLUNTEER and spend many weekends, at my expense (hotels, gas, food), away from home volunteering my time. The nonprofit I volunteer with has now begun paying me a stipend for my time and expertise. It is not much, basically just enough to cover my expenses. At the end of the year, I received from them a form NEC. When I filed last year, my "losses" were extreme when taking into account mileage travelled, and I don't think I paid any self-employment tax. Does that sound correct? My question concerns this particular scenario again.....at what point and which taxes do I have to pay if I'm classified as an independent contractor (when in actuality, I am not a business but a volunteer!)
‎October 27, 2021
10:28 AM