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pacers10
New Member

I sell life Insurance and I was told that if I didn't receive $600 or more of commission within the year I won't receive a 1099. How do I report the income?

When I try to put the figures I calculated for income for the companies I don't have a 1099 for, it won't let me because I don't have a Fed/tax ID for them.
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1 Best answer

Accepted Solutions
HelenaC
New Member

I sell life Insurance and I was told that if I didn't receive $600 or more of commission within the year I won't receive a 1099. How do I report the income?

You don't have to enter the Employer Identification Number. Add all the non-1099-MISC form amounts together and enter them as follows:

  Your self-employment income was from cash or personal checks or credit card payments:

  • Type “Schedule C” in the Search box and then select the “Jump to” link.
  • This will take you to where you can enter any cash, personal checks or credit card payments (Form 1099-K) related to your self-employment.
  • You may be asked some general questions about your business.
  •  After you answer them, you’ll be taken to the Your Business screen where you can enter this income as Additional Income under Business Income.

You received a 1099-MISC for your self-employed income:

  • Type “1099-misc” in the Search box and then select the “Jump to” link.
  • This will take you directly to the section where you can enter your 1099-MISC.
  • You’ll also be able to enter any cash, personal checks or credit card payments (Form 1099-K) related to your self-employment.
Related Information:

View solution in original post

1 Reply
HelenaC
New Member

I sell life Insurance and I was told that if I didn't receive $600 or more of commission within the year I won't receive a 1099. How do I report the income?

You don't have to enter the Employer Identification Number. Add all the non-1099-MISC form amounts together and enter them as follows:

  Your self-employment income was from cash or personal checks or credit card payments:

  • Type “Schedule C” in the Search box and then select the “Jump to” link.
  • This will take you to where you can enter any cash, personal checks or credit card payments (Form 1099-K) related to your self-employment.
  • You may be asked some general questions about your business.
  •  After you answer them, you’ll be taken to the Your Business screen where you can enter this income as Additional Income under Business Income.

You received a 1099-MISC for your self-employed income:

  • Type “1099-misc” in the Search box and then select the “Jump to” link.
  • This will take you directly to the section where you can enter your 1099-MISC.
  • You’ll also be able to enter any cash, personal checks or credit card payments (Form 1099-K) related to your self-employment.
Related Information:
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