topic Thanks! in Business & farm

Am I running a business; is schedule C required?

haroldappel — Sat, 01 Jun 2019 02:44:00 GMT

I did consulting work one time for a particular client, a one time payment reported on 1099--MISC. I don't intend to do it again but it's possible. I don't think of myself as having a business, I am retired, it was a one shot offer. Do I have to enter this payment as though I have a business on Schedule C?

Pay for consulting work would typically be income from se...

dmertz — Sat, 01 Jun 2019 02:44:01 GMT

Pay for consulting work would typically be income from self-employment, particularly if this work was similar to work that you normally perform (or used to perform) as an employee of another company. As such, it's reportable on Schedule C.

Thanks!

haroldappel — Sat, 01 Jun 2019 02:44:04 GMT

Thanks!

Answered in comments.

dmertz — Sat, 01 Jun 2019 02:44:05 GMT

Answered in comments.