I win a trip that I have a 1099-misc. Is that considered selfemployment or winnings to file for?

posted

No it is not self employment income. It is Miscellaneous Income. A few differences is that with Self Employment Income, you usually have to file a Schedule C and can deduct expenses. In addition, you may have to pay self employment tax on it. Winnings are just added to your other income.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"