I have a 1099-misc

poker619 — Mon, 03 Jun 2019 17:51:50 GMT

Most people get a Form 1099-MISC in the mail when they do...

MichaelDC — Mon, 03 Jun 2019 17:51:51 GMT

Most people get a Form 1099-MISC in the mail when they do contract or freelance work and make over $600.

Although form 1099-MISC can be used for any kind of miscellaneous income, it is typically used to report these types of income:

Payments of $600 or more for services performed by persons not treated as an employee (a non-employee, independent contractor, freelancer, or the self-employed).
Prizes or awards ($600 or more)
Rent payments
Royalty payments ($10 or more)
State and federal tax withheld for any of the activities reportable on the form.
Substitute dividend and tax-exempt interest reportable by brokers ($10 or more).
Payments to a physician, physicians' corporation or other supplier of health and medical services, issued mainly by medical assistance programs or health and accident insurance plans ($600 or more).
Payments to fishing boat crew members coming from sale of catch.
Crop insurance proceeds.

Note: It's important to remember that you still need to report all of your income even if you did not receive a 1099-MISC

Report income with a 1099-Misc

While in your return, type “1099-misc” in the Search box and then select the “Jump to” link. This will take you directly to the section where you can enter your 1099-MISC.

After you’ve entered the information from your 1099-MISC, TurboTax will ask a series of questions to determine if your 1099-MISC income is from self-employment or is ordinary income.

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I have a 1099-misc

Most people get a Form 1099-MISC in the mail when they do...