I received a 1099-MISC. Because of that, I am automatically considered a business? I entered the 1099-MISC, and it said I need to upgrade because it's self-employed income. Well, i guess it is? I mean I have a "day job" but I guess this would be self-employment?
And I keep seeing something that says schedule E, but nowhere to enter that and all I see is schedule C.
To avoid any headaches on my end, should I just list it as schedule C "self-employment" income even though I just do it on the side?
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1. You need to list the income but where is the question. Let's take a look at Earning side income: Is it a hobby or a business? which lists 9 factors after stating that a hobby is for recreation, not for profit:
2. If this is a side business- meant to make money- report it on Sch C. If this is hobby income and you don't really expect anymore, enter it like this:
DISREGARD: I was able to locate where.
I don't have the option to enter a reason. Did I click on the wrong thing?
My next option is "royal investment income from a natural...."
or
"royalty income from being self-employed..."
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