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Level 2

Filing two forms of separate self employment income one with a 1099 and one without

How would I report tax on two forms of self employment income both from different employers. One of the incomes was under the $600 mark to receive a 1099-misc from my employer, and the second one was over the $600 mark and I did receive a 1099-misc.

 

Do I report the income under $600 as other income on the 1040 or do I have to fill out a two separate schedule-cs since the jobs are completely opposite?

 

If I have to fill out two separate schedule c's, how do I do this without the employers information such as their EIN and Address without receiving a 1099-misc?

 

If not, where do I report the income without the employers information?

 

On the schedule c do I put my net profit from both of these jobs or do I only do it for the job I received a 1099-misc from?

 

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Level 15

Filing two forms of separate self employment income one with a 1099 and one without

You must report and pay tax on all your income, even if you don’t get paperwork. If you are self-employed, you are expected to keep accurate records of all of your income and expenses so you can prepare your tax return, even if you don’t get a 1099.  You have one schedule C business for all your similar business activities, even if you have more than one customer or client.  The only reason to have separate schedule Cs is if your businesses are so different that the expenses, or equipment, or other aspects of the business need to be separated.


When you set up your schedule C business you will list all your income reported on the 1099 and then there is a second link to add other income not reported on a 1099.

*Answers are correct to the best of my ability but do not constitute legal or tax advice.*
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Level 15

Filing two forms of separate self employment income one with a 1099 and one without

First of all they are not employers.  They are your Customers or Clients.  You don't need to get an actual 1099Misc.  In fact you don't need to enter the 1099Misc you got.  You can enter the income as Cash or General income.  Only the total income goes to schedule C.   I don't know if you need to enter it all on 1 schedule C or use 2 schedule Cs.  

 

How to enter self employment income
https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

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Level 15

Filing two forms of separate self employment income one with a 1099 and one without

Also you don't enter the Net Profit.  You enter all your gross income and then you enter your expenses on schedule C.  Turbo Tax will calculate the Net Profit or Loss.

 

Where to enter self employment expenses

https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-self-employment-busine...

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