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morin929
New Member

I received a 1099-MISC and i dont know what it is for

 
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2 Replies

I received a 1099-MISC and i dont know what it is for

In which box of the Form 1099-MISC is an amount entered?

If is box 3 for Other Income, then you should know the Payer shown on the form.

MindyB
Expert Alumni

I received a 1099-MISC and i dont know what it is for

Reach out to the "Payer" listed on the form to clarify exactly what the payment was for. TurboTax will ask you specific questions to determine if this money is a one-time payment (like a prize or award) or earned income from work, if you guess incorrectly, you could accidentally trigger a 15.3% self-employment tax that you don't actually owe, or vice versa.

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