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Level 2
posted Mar 19, 2020 3:22:49 PM

How should I report income ($522) from a temporary consulting job?

Hi,

 

My wife retired last year, and her former company called her a few times and had her back in for a few hours. In total, they paid her a $522 for this work (flat rate, no taxes withheld, etc.) Apparently since it was under $600, they did not have to send us any tax forms. We don't have any deductions or anything for this; we just need to report the $522 income.

 

I'm wondering how I need to enter this in Turbo Tax? Right now, I have it under Less Common Income / Miscellaneous Income. I've never had to report something like this, so I'm not sure if I'm doing it right. I'd appreciate any advice on how to correctly report this.

 

Thanks for your help!

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1 Best answer
Expert Alumni
Mar 19, 2020 3:59:47 PM

Technically, it should be reported as self-employment income, reported on Schedule C and subject to self-employment tax.  You won't run into any problems by just leaving it as Miscellaneous Income.

1 Replies
Expert Alumni
Mar 19, 2020 3:59:47 PM

Technically, it should be reported as self-employment income, reported on Schedule C and subject to self-employment tax.  You won't run into any problems by just leaving it as Miscellaneous Income.