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mrbill
Returning Member

I have a 1099 misc for selling houses, it is my commission. But I am not getting my standard deduction against it. What is going on?

I have a 1099 misc from my Broker.  It commission from selling property.  My personal deduction is not going against it, why?  How should I put it in to Turbo Tax?  I am self-employed.

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AlanT
Expert Alumni

I have a 1099 misc for selling houses, it is my commission. But I am not getting my standard deduction against it. What is going on?

Your standard deduction is being used to reduce your taxable income.  However, you will owe additional self-employment tax.  This is your share of Social Security and Medicare

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AlanT
Expert Alumni

I have a 1099 misc for selling houses, it is my commission. But I am not getting my standard deduction against it. What is going on?

Your standard deduction is being used to reduce your taxable income.  However, you will owe additional self-employment tax.  This is your share of Social Security and Medicare

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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