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I was paid $3500 (wired directly to my bank account) by a foreign non-profit for independent contract work I performed in my home state (DC). Do I need to file a 1099?
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June 3, 2019
12:02 PM
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June 03, 2019
12:02 PM
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I was paid $3500 (wired directly to my bank account) by a foreign non-profit for independent contract work I performed in my home state (DC). Do I need to file a 1099?
You don't need to file a 1099 for receiving income. You file a 1099 for paying, for example, subcontractors when you are a business.
You must report the $3500 as income on your Schedule C (if you are self-employed). Whether you receive a 1099 or not (or any other information form) has no bearing on whether you must report the income. You must report all worldwide income unless there is a specific exclusion.
In the business/self-employed/independent contractor TT interview it will ask you if you have any income not reported to you on a 1099-MISC. Just say yes and tell TT the amount, answering any follow up questions.
If you need help finding that section, please ask.
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June 3, 2019
12:02 PM
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