I received a 1099-MISC from a contracting job and it's asking me to enter all the details as the payer but I am the contractor. How should I enter my compensation?

[Cindy0H]

As the business person receiving this 1099MISC, you will not enter as you are right now. Here is how to do it:

• Business
• Business Income & Expenses...update
• Edit your Business
• Business Income...update
• 1099-MISC income...start

Make sure you delete the one you tried to enter. You don't want it to be counted twice.

[VolvoGirl]

Sorry but you are answering for you.  Not the business that paid you.  You are your own business.  When you are self employed you are in business for yourself and the person or company that pays you is your customer or client.

To report your self employment income you will fill out schedule C in your personal 1040 tax return and pay SE self employment Tax.  You will need to use the Online Self Employed version or any Desktop program but the Desktop Home & Business version will have the most help.

You can enter Self Employment Income into Online Deluxe or Premier but if you have any expenses you will have to upgrade to the Self Employed version.  How to enter self employment income
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