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anvega324
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I was given a 1099 for a company I freelanced for for 1 week. I freelanced at other co's but this was the only place that 1099'd me. Do I need to claim self-employment?

 
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I was given a 1099 for a company I freelanced for for 1 week. I freelanced at other co's but this was the only place that 1099'd me. Do I need to claim self-employment?

Yes.

The IRS considers anything in box 7 of 1099-MISC to be self employment income. Enter the 1099-Misc income, at Other Common income / income from a 1099-MISC . TurboTax (TT) will complete Schedule C or C-EZ for you and allow you to deduct any expenses associated with this income. You'll also have to pay self employment tax (social security & Medicare) on any profits greater than $400. These types of payments are frequently done this way. Your "employer" is not the only one.

The IRS also considers undocumented cash income (no W-2 or 1099-MISC), for work performed, to be self employment income.


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I was given a 1099 for a company I freelanced for for 1 week. I freelanced at other co's but this was the only place that 1099'd me. Do I need to claim self-employment?

Yes.

The IRS considers anything in box 7 of 1099-MISC to be self employment income. Enter the 1099-Misc income, at Other Common income / income from a 1099-MISC . TurboTax (TT) will complete Schedule C or C-EZ for you and allow you to deduct any expenses associated with this income. You'll also have to pay self employment tax (social security & Medicare) on any profits greater than $400. These types of payments are frequently done this way. Your "employer" is not the only one.

The IRS also considers undocumented cash income (no W-2 or 1099-MISC), for work performed, to be self employment income.


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