turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes & Forms (2024) on Mar 19! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

mayryals
New Member

1099

If I was to be 1099 but a fulltime student. Do I qualify for any tax breaks ? Do I still need to pay in? I know I need to file still, but would I pay in?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
DawnC
Employee Tax Expert

1099

It depends on how much you made.   Enter in your 1099 and TurboTax will tell you what, if any, you owe, and make sure you get all the deductions and credits allowed.   

 

If you are self-employed, you can deduct expenses related to your income.    There is no tax break for being a student, but if you paid tuition or have other qualified educations expenses, there are definitely tax breaks for those.  

 

Education Credits

 

I need to enter a 1099 - Am I Self-Employed? 

 

What self-employed expenses can I deduct?  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

1099

There are over a dozen kinds of 1099's, so it would help to know what kind you are asking about.    If you mean that you worked and received a 1099NEC, then yes, you will owe self-employment tax for Social Security and Medicare.   You are required to file a tax return and pay self-employment tax if you made more than $400 of self-employment income.

 

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

 

If you have some other kind of 1099, please provide some details.

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question