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Two 10-99 form

My Employer sent me two 10-99 forms with roughly half my income on one and the other half on the other. Could I just file it jointly and put all my exceptions on one? Will that make my taxes more if I do it?

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3 Replies
LeticiaF1
Employee Tax Expert

Two 10-99 form

You will need to enter each form 1099 separately.  This won't make a difference on the amount of tax you pay.  

Two 10-99 form

You were paid as an independent contractor.  That is self employment income.  You have business income.  You need to fill out schedule C and can enter your expenses.  You can enter each 1099NEC or just enter the total as Other self employment income or as Cash or General income.  

 

You can enter Schedule C for Self Employment Income into Online Deluxe but if you have any expenses you will have to upgrade to Premium version. Or use any of the Desktop Download programs. You can buy the Desktop Download program here,
https://turbotax.intuit.com/personal-taxes/cd-download


How to enter income from Self Employment
https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...


Where to enter business expenses
https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-self-employment-busine...

Two 10-99 form

Here's some more info on self employment.  You will owe self employment tax on it.  

 

Self Employment tax (Scheduled SE) is automatically generated if a person has $400 or more of net profit from self-employment. You pay 15.3% SE tax on 92.35% of your Net Profit greater than $400. The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare. So you get social security credit for it when you retire.  The SE tax is already included in your tax due or reduced your refund. The SE tax is in addition to your regular income tax on the net profit.

 

Here is some IRS reading material……
IRS information on Self Employment
https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-center


IRS Guide to Business Expense Resources
https://www.irs.gov/forms-pubs/guide-to-business-expense-resources


Turbo Tax Self Employed Tax Hub
https://turbotax.intuit.com/personal-taxes/self-employment-taxes

 

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