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If self-employed and my company was not active in 2017 what type of income should i pick? 1099-MISC, Other self-employed or Uncommon income

 
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PatriciaV
Expert Alumni

If self-employed and my company was not active in 2017 what type of income should i pick? 1099-MISC, Other self-employed or Uncommon income

Even if your company was not actively pursuing a business objective during the year, any self-employment income in the same industry reported to you on Form 1099-MISC should be entered for Schedule C.

However, if the work you performed was in a different industry and unrelated to your original business, you would need to enter the income under a new business name and profile for Schedule C. Any income from Form 1099-MISC Box 7 is considered self-employment income.

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PatriciaV
Expert Alumni

If self-employed and my company was not active in 2017 what type of income should i pick? 1099-MISC, Other self-employed or Uncommon income

Even if your company was not actively pursuing a business objective during the year, any self-employment income in the same industry reported to you on Form 1099-MISC should be entered for Schedule C.

However, if the work you performed was in a different industry and unrelated to your original business, you would need to enter the income under a new business name and profile for Schedule C. Any income from Form 1099-MISC Box 7 is considered self-employment 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"
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