I'm filing a Schedule C (received 1099 misc) but I'm being asked to "choose the accounting method for your business". I don't have a business.

sylvie-bendier — Thu, 06 Jun 2019 05:27:21 GMT

If you did work as a freelancer or independent contractor...

TomD8 — Thu, 06 Jun 2019 05:27:22 GMT

If you did work as a freelancer or independent contractor, and your income was reported to you in Box 7 of a 1099-MISC, you're considered to be a self-employed "business." You'd enter that income as Business Income. In most cases, your Accounting Method would be "Cash." Your self-employed income and expenses are reported on Schedule C of your tax return.

This web reference explains the difference between the "cash" and the "accrual" methods of accounting: http://www.nolo.com/legal-encyclopedia/cash-vs-accrual-accounting-29513.html

topic I'm filing a Schedule C (received 1099 misc) but I'm being asked to "choose the accounting method for your business". I don't have a business. in Business & farm

I'm filing a Schedule C (received 1099 misc) but I'm being asked to "choose the accounting method for your business". I don't have a business.

If you did work as a freelancer or independent contractor...