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?
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: