You'll need to sign in or create an account to connect with an expert.
The payments from the car manufacturer reported on the form 1099-MISC are SPIFF payments.
The payments (1) are not treated as wages, (2) are not subject to federal income tax withholding, social security, Medicare, or federal unemployment tax, and (3) are not considered to be self employment income and, therefore, are not subject to self employment tax. http://www.irs.gov/pub/irs-pdf/p3204.pdf
You report them as Other reported Income.
In TurboTax, open your return and follow these steps:
The payments from the car manufacturer reported on the form 1099-MISC are SPIFF payments.
The payments (1) are not treated as wages, (2) are not subject to federal income tax withholding, social security, Medicare, or federal unemployment tax, and (3) are not considered to be self employment income and, therefore, are not subject to self employment tax. http://www.irs.gov/pub/irs-pdf/p3204.pdf
You report them as Other reported Income.
In TurboTax, open your return and follow these steps:
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.