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021ofcmgr
New Member

Most of my income is from a job. To file my taxes I am being charged like self employed. Can someone please explain?

 
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Accepted Solutions
Hal_Al
Level 15

Most of my income is from a job. To file my taxes I am being charged like self employed. Can someone please explain?

Although it may be news to you that you “have a business” (and most of the other people who get their first 1099-MISC); 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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1 Reply
Hal_Al
Level 15

Most of my income is from a job. To file my taxes I am being charged like self employed. Can someone please explain?

Although it may be news to you that you “have a business” (and most of the other people who get their first 1099-MISC); 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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