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,Created with Sketch.1560 helpful votes

Does a 1099-MISC mean I'm self-employed?

A 1099-MISC often but not always relates to self-employment income.

1099-MISC Unrelated to Self-Employment

A non-work 1099-MISC would be for things like:

  • Prize money
  • Lawsuit settlements
  • Research studies
  • Other

Here ‘s how to enter a 1099-MISC that you may have received for another reason.

  • After you enter the info from your form, we’ll ask you a few questions to determine what type of 1099-MISC it is and link it to the correct income section of your return.

Self-Employment 1099-MISC

Whether you’re a sole proprietor, an independent contractor, a consultant or a freelancer, you’re probably getting some or all of your income reported on a 1099-MISC or 1099-K. You have flexibility to work the way you want, but it also means the government considers you to be self-employed — or even a business.

  • For 1099-MISC, having an amount appear in Box 7 is a good indicator that it's a self-employment 1099-MISC.

To Enter a 1099-MISC from Self-Employment

  • Instructions for entering a 1099-MISC form. After you enter the info from your form, we’ll ask you a few questions to make sure it’s a self-employment 1099-MISC. If not, we’ll link it to the correct income section of your return.

Key Points on 1099-MISC and Other Self-Employment Income

  • When you’re paid this way, there’s no withholding taken out of your income, which means you’ll pay both self-employment tax as well as income tax.
  • A benefit of being self-employed is that it enables you to have lots of write-offs as well, so make sure to enter all your expenses. This helps you reduce the taxes you might owe or increase your refund. We’ll help you get every possible tax break you deserve.

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