Where do I post honorarium income for federal taxes?

[jasalyda21]

This was for speaking at a conference.

[DawnC · Accepted solution]

Do you speak at conferences to earn income on a regular basis or was it a one-time event?   It is taxable whether or not you received a tax form but where it gets reported depends on your answer to the first question.  

• If sporadic or not regular income - it is reported as Other Income on Form 1040.  Enter as Miscellaneous Income/Other Reportable Income which is the last item in the Less Common Income section 
• If you regularly perform the speaking activity - it is reported on Schedule C as self-employment income.  How do I report income from self-employment?

Here is a link to the journal of Accountancy, which is a trusted source for tax research information. Note the reference it makes to Revenue Ruling 58-112 that characterizes a trade or business activity as one that is regular, frequent and continuous. It also states in the link that Revenue Ruling 55-431 states “as a general rule, an individual who accepts an occasional invitation to make a speech is not engaged in a trade or business.” After this quote, it explains what other income is.

This link  briefly references Revenue Ruling 55-431. Please select this hyperlink for more supporting detail.