I work as an independent contractor only with a family friend and their business they have. I have no stake in the business, etc... this is their own. I also do not put forth any money of my own towards the work either, just paid by check every two weeks. Come tax time, I'm sent a 1099-NEC form.
What I need some better understanding on is, how come I have a Schedule C (Form 1040) called "Profit or Loss Form Business (Sole Proprietorship). Currently the way I'm seeing it is it's saying I have proprietorship in my friend's business, but that's not at all the case. Or does it mean I, as an independent contractor, that I am the "proprietor" and this is for me since I'm classified and working as an "independent contractor"/administrative assistant to my friend's business.
Thanks
