I am a consultant for a university and received income (~$10K) through a purchase order. I do not have a business (e.g., LLC), I just was paid an hourly rate for the hours I consulted. I have not, nor do I expect to receive any end of year forms from the university to document actual payment for 2019. How should this be included?
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You will report this as self-employment income on Schedule C Profit and Loss from Business.
The IRS requires that employers issue Form 1099 to any individual who is not an employee and is paid more than $600. Employers have until January 31, 2020, to issue Form 1099.
To enter information in Schedule C follow these steps:
Follow the screen prompts to enter your Schedule C information.
You will report this as self-employment income on Schedule C Profit and Loss from Business.
The IRS requires that employers issue Form 1099 to any individual who is not an employee and is paid more than $600. Employers have until January 31, 2020, to issue Form 1099.
To enter information in Schedule C follow these steps:
Follow the screen prompts to enter your Schedule C information.
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