topic 1099 in Self employed

1099

craigv — Tue, 24 Feb 2026 07:04:36 GMT

I am transitioning from w-2 income to 1099. Do I need to do quarterly payments? If so, how do I estimate the amount?

Re: 1099

MarthaT — Wed, 30 Aug 2023 16:33:57 GMT

Hello how are you doing

Re: 1099

Cindy4 — Wed, 30 Aug 2023 16:34:07 GMT

Hi @craigv !

Quarterly payments are required if you will owe more than $1,000 for the year.

Here is a resource that should help:

https://turbotax.intuit.com/tax-tips/small-business-taxes/estimated-taxes-how-to-determine-what-to-pay-and-when/L3OPIbJNw

Best wishes on your new venture!

Cindy

Re: 1099

MarthaT — Wed, 30 Aug 2023 16:38:16 GMT

To answer your question, it is best that you start making payment if you believe your net income from your self-employment (Form 1099-NEC) is more than $1,000.00. Otherwise you might ended up paying more with penalties and interest. You can start making your quarterly payments at https://www.irs.gov/payments.