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The 1099-misc turned your gift into taxable compensation. if the amount is in box 7, it will be subject to FICA as well as income tax.
This is a work around, in TurboTax, to avoid FICA; but box 7 is a red flag to the IRS
The 1099-misc turned your gift into taxable compensation. if the amount is in box 7, it will be subject to FICA as well as income tax.
This is a work around, in TurboTax, to avoid FICA; but box 7 is a red flag to the IRS
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