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I was paid only thru zelle, pay pal and cash app for work i did in 2023 and didnt get a 1099. am i considered self employed, an independent contractor, a freelancer/gig?

 
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I was paid only thru zelle, pay pal and cash app for work i did in 2023 and didnt get a 1099. am i considered self employed, an independent contractor, a freelancer/gig?

Yes. Report income and expenses on Sch C. 

I was paid only thru zelle, pay pal and cash app for work i did in 2023 and didnt get a 1099. am i considered self employed, an independent contractor, a freelancer/gig?

Yes you are the owner of your own self employment business.  You are in business for yourself.  Use your own info.  The people or company that pays you is your customer or client.  You need to fill out schedule C for self employment business income.  You are considered to have your own business for it.  YOU are the business.

 

To report your self employment income you will fill out schedule C in your personal 1040 tax return and pay SE self employment Tax.  Here's a Schedule C  https://www.irs.gov/pub/irs-pdf/f1040sc.pdf

 

You can enter Self Employment Income into Online Deluxe but if you have any expenses you will have to upgrade to Premium or use any of the Desktop CD/Download programs.

 

How to enter self employment income

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

 

Self Employment tax (Scheduled SE) is automatically generated if a person has $400 or more of net profit from self-employment.  You pay 15.3% SE tax on 92.35% of your Net Profit greater than $400.  The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare.  So you get social security credit for it when you retire.  

 

The SE tax is already included in your tax due or reduced your refund.  It is on the 1040 Schedule 2 line 4 which goes to 1040 line 23.  The SE tax is in addition to your regular income tax on the net profit.

 

Here is some IRS reading material……

 

IRS information on Self Employment

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employed-Individuals-Tax-Center

 

Pulication 334, Tax Guide for Small Business

http://www.irs.gov/pub/irs-pdf/p334.pdf

 

Publication 535 Business Expenses

http://www.irs.gov/pub/irs-pdf/p535.pdf

 

 

 

MarilynG1
Expert Alumni

I was paid only thru zelle, pay pal and cash app for work i did in 2023 and didnt get a 1099. am i considered self employed, an independent contractor, a freelancer/gig?

Yes, you are all of those things!  If you don't have an employer who give you a regular paycheck and a W-2 at year end, you are self-employed.  You need to keep track of your income and expenses, and vehicle mileage, if you use your vehicle in performing work for which you earn taxable income. 

 

TurboTax asks questions about the type of work you do, in order to present you with various expenses that may be applicable to you.  Type 'Schedule C' in the Search area, and proceed through the interview.  You can always go back and change your answers, so don't worry about getting everything in the first time you visit this area. 

 

Here's a few helpful articles to help you get started down the right path to reporting your self-employment income/expenses (and taking advantage of the tax breaks!).

 

 

@1jujubee 

 

 

 

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