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I received a 1099-MISC for reimbursement of travel expenses. How does this get reported? Does Social Security tax need to be paid on this?

 
6 Replies
Hal_Al
Level 15

I received a 1099-MISC for reimbursement of travel expenses. How does this get reported? Does Social Security tax need to be paid on this?

Reimbursement from whom?
-Your regular W-2 employer? If so, why was it don this way?
-a contract job?
-something else?
What box on the 1099-misc. is the $ amount in?

I received a 1099-MISC for reimbursement of travel expenses. How does this get reported? Does Social Security tax need to be paid on this?

Reimbursement from a client.  Working as an independent contractor. $ are in Box 7.  One client sent 2 1099's - one for compensation and one for expenses.  Another client rolled them into one 1099.
Hal_Al
Level 15

I received a 1099-MISC for reimbursement of travel expenses. How does this get reported? Does Social Security tax need to be paid on this?

Then, it is normal business income. Your show it as gross revenue on schedule C and then deduct the expenses. The net effect on your tax return should be zero unless expenses exceed reimbursement or vice versa.

I received a 1099-MISC for reimbursement of travel expenses. How does this get reported? Does Social Security tax need to be paid on this?

Thanks. Then, to be clear, I pay self-employment tax (Social Security) only on the profit? Not on the gross Box 7 amount?
Hal_Al
Level 15

I received a 1099-MISC for reimbursement of travel expenses. How does this get reported? Does Social Security tax need to be paid on this?

That's correct.

I received a 1099-MISC for reimbursement of travel expenses. How does this get reported? Does Social Security tax need to be paid on this?

Thanks again
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