We have a 1099 its for $800. Do i have to claim this? will i be charged the self employment tax for it?

[VolvoGirl]

What kind of 1099?  I assume it’s a 1099Misc with the amount in box 7?

[KarenJ · Accepted solution]

Yes, you need to include all self-employment income on your return(s).   If you have expenses that relate to this business income, you can offset some or all of your self-employment income with related business expenses on Schedule C.  Additional social security tax is accessed on "net" self-employment income after it has been offset by any related expenses.

You will need to upgrade to the Turbo Tax Self-Employment online edition or the CD/download for Home & Business to be able to declare any related business expenses.

If you have no business expenses to offset your 1099 self-employment income, then you only need to upgrade to the Deluxe edition to report this income.