I have a 1099-MISC from a student loan provider (Sofi) for $600 in Box 7 for referral bonuses. Should I mark yes or no about it involved an intent to earn money?
011476
1 Best answer
Ashby
New Member
Jun 7, 2019 5:02:38 PM
You should mark no. These referral bonuses should be considered one time income. If you mark "no", income will not be subject to self-employment tax. This income will be reported on your 1040, Schedule 1, Line 21.
1 Replies
Ashby
New Member
Jun 7, 2019 5:02:38 PM
You should mark no. These referral bonuses should be considered one time income. If you mark "no", income will not be subject to self-employment tax. This income will be reported on your 1040, Schedule 1, Line 21.