turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I have a 1099-misc and a 1099-k as well as a 1098-t I don't own my own business and I don't know how to file these.

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Patrice
New Member

I have a 1099-misc and a 1099-k as well as a 1098-t I don't own my own business and I don't know how to file these.

If your Form 1099-MISC shows an amount in Box 7 for non employee compensation and it’s because you did consulting work or other services for someone, based on IRS regulation, you DO now "have a business!" You’re in the business of consulting, and you have to file Schedule C to report that 1099-MISC income. The Schedule C is located in TurboTax Self-Employed version. This is a requirement, not an option!  

Additionally, if you received a 1099-K.  Form 1099-K, Payment Card and Third Party Network Transactions, is used by credit card companies and third-party processors, like PayPal and Amazon, to report the payment transactions they process for retailers. It reports the gross amount of the transactions, but doesn't include any adjustments for credits, refunds, discounts, fees, etc.

The good thing about filing Schedule C is the ability to apply any expenses you incurred while performing those services


message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies