I trade a foreign company's investment account and at the end of every month i take 70% of the profit and they take 30%. I get payed by ACH transactions. They dont send 1099s since their based outside of the US. Would I be considered a self employed/contractor? The income is not taxed by anyone.
@stantheman226 , it is self-employment income. Even without a 1099, you need to recognize this income as if you had a 1099. Also since the work is being done by you ( a US citizen/Resident ) in the USA, it is not foreign source income.
So you will file a schedule-C showing the gross earnings and any allowable expenses associated with this income and schedule-SE on most of the net income ( at 15.3% ).