Hi all I’ve been taking surveys all year an I’ve made about $770. This is over a few different survey apps not the same one but I’m assuming I still have to file a 1099?

Forum|Forum|1 year ago
October 27, 2024
2 replies
28 views

No text available

TurboTax Free Edition Online

DoninGA

Level 15

You have to report you self-employment income since it is $400 or more, even if you did not receive a Form 1099-NEC or 1099-MISC.

See this TurboTax support FAQ for reporting self-employment income - https://ttlc.intuit.com/turbotax-support/en-us/help-article/self-employment-taxes/report-income-self-employment/L5wADi3xQ_US_en_US?uid=m2rqjq3v

Opus 17

Level 15

It is either taxable income as a "hobby" or as "self-employment". With a hobby, you don't pay the extra 15% self-employment tax, and you can't deduct expenses. With self-employment, you do pay self-employment tax (which gives you social security credits) and you can deduct ordinary and necessary expenses, if you have any.

The IRS offers some guidance on how to decide if an activity is a hobby or a business.

https://www.irs.gov/faqs/small-business-self-employed-other-business/income-expenses/income-expenses

(You don't file a "1099" for self-employment, you file a schedule C, which lists your income and expenses. List all your business income even if you did not get tax paperwork from the payers.)