- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Self employed
Hello Beth,
You don't file the 1099-K, you will receive a 1099-k, 1099-misc or 1099-nec from the entity or person giving you the money (Venmo, Cash App, etc).
You would report the income on schedule 1 of your tax return if it is a hobby and no expenses can be taken
If it is a business the you will need to file a schedule C (self employment income). On the schedule C you will list all the income you made cash, 1099-K, 1099-nec or 1099-misc.
You will also list all of your expenses associated with making that income. The expenses will be deducted from the income giving you a net profit/loss
Here are a few links with more information
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎August 31, 2022
10:38 AM