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New Member
posted Jun 4, 2019 6:58:54 PM

Last year, I had 2 jobs. One gave me a W2 for taxes and one I was 1099 as a contractor. I need to know how to figure out how much I paid in taxes for the 1099 job.

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Level 9
Jun 4, 2019 6:58:56 PM

I assume you are referring to 2016.  If you are a contractor, you ordinarily would not have had taxes withheld at all.  You are considered self-employed, and owe both self-employment tax and regular income tax on your net profit from the contracting job.  You file a Schedule C as part of your income tax filing to report the 1099 income less any business expenses you might have had.

1 Replies
Level 9
Jun 4, 2019 6:58:56 PM

I assume you are referring to 2016.  If you are a contractor, you ordinarily would not have had taxes withheld at all.  You are considered self-employed, and owe both self-employment tax and regular income tax on your net profit from the contracting job.  You file a Schedule C as part of your income tax filing to report the 1099 income less any business expenses you might have had.