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I am a retired insurance agent and receive income each year from policy renewals reported on 1099-MISC. How do I file or report this income?

Retired but still receiving 1099-MISC income

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4 Replies

I am a retired insurance agent and receive income each year from policy renewals reported on 1099-MISC. How do I file or report this income?

Which box on the 1099-MISC is used - Box 3, or Box 7?

I am a retired insurance agent and receive income each year from policy renewals reported on 1099-MISC. How do I file or report this income?

Box 7

I am a retired insurance agent and receive income each year from policy renewals reported on 1099-MISC. How do I file or report this income?

IRS expects 1099-MISC Box 7  income to be reported as Self-Employment - and that is appropriate in described situation. You're being paid for something you did. It is taxable when paid, not when the work was done.

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I am a retired insurance agent and receive income each year from policy renewals reported on 1099-MISC. How do I file or report this income?

box 7

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