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1099 NEC

I will receive a 1099 NEC for my review of  various products throughout the year.  I am not compensated for my reviews but I can keep the products that I review.  The value of all of the products will be recorded on line 1 of the 1099 NEC form. I only write reviews, do not own a business or receive any money for writing the reviews.  Can I record this as  other income on my 1040 or so I need to file a schedule c? 

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2 Replies

1099 NEC

Common question. The IRS considers the total of the factors in each situation and has some good material on their website. TurboTax has a discussion here. You must decide what you are comfortable with after you educate yourself. 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/self-employment-taxes/difference-self-em...

 

 

1099 NEC

correct is that you are compensated just not in cash.  it's the value of the items you get to keep.  this doesn't mean you have a  business. 

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