2487643
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Had $1800 in RESIDUAL INCOME (sales from past years) on a 1099-NEC. Am filing it, but do I need to pay taxes on it? irs.gov website pamphlets not helpful either

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
AmyC
Expert Alumni

Had $1800 in RESIDUAL INCOME (sales from past years) on a 1099-NEC. Am filing it, but do I need to pay taxes on it? irs.gov website pamphlets not helpful either

Yes, you pay taxes on income. However, you do not need to pay self-employment tax if you were not actively looking to earn the money. You should not have a sch C on your return.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question