How should you report fees received from Nielsen Audio for tv channel monitoring be reported?
Fee reported in box 7 (non employee compensation) on 1099 Misc. Income Form. Turbo Tax is classifying it as business income. Does this classification subject it to self-employment FICA and Medicare tax?
How should you report fees received from Nielsen Audio for tv channel monitoring be reported?
Generally, the IRS always considers income reported on Form 1099-MISC, box 7 as self-employment income. And yes, this income is subject to self-employment FICA and Medicare tax.
How should you report fees received from Nielsen Audio for tv channel monitoring be reported?
Generally, the IRS always considers income reported on Form 1099-MISC, box 7 as self-employment income. And yes, this income is subject to self-employment FICA and Medicare tax.
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