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1099-MISC questions, first time filing

I am confused about how filing 1099-MISC works. Are you supposed to receive something in the mail from a company such as Postmates/Uber, like I would for a W-2, and then file your taxes? Its my first time filing for this, any hep would be appreciated.
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1099-MISC questions, first time filing

See this TurboTax article for some guidance: <a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/tax-tools/tax-tips/Self-Employment-Taxes/Tax-Tips-for-Uber--Lyft--Sideca...>

1099-MISC questions, first time filing

A W-2 is issued by an employer to an employee and the W-2 tells the employee how much the employer has paid him and how much and what kind of taxes have been withheld from that pay.

1099-MISC's may be, (or may not be), issued to independent contractors by payers, telling the independent contractor how much each payer has paid the independent contractor.  A 1099-MISC is required to be issued to an independent contractor if a payer has paid the independent contractor more than $600.  So you probably wouldn't get a 1099-MISC if you were paid less than $600 - but you might - and in any case the requirement that a payer issue a 1099-MISC is frequently ignored even if the amount paid is over $600. 

But here's the more important point: if you are an independent contractor you are required to maintain your own books and records of income and expense and you are required to report all your income, irrespective if you get a 1099-MISC, or not.  The IRS invented the 1099-MISC to "help" independent contractors to not "forget" to report all of their income to the IRS, but given the situation you're not necessarily going to get 1099-MISC's that add up to all of your income.

You will need to use either TurboTax Home and Business, (desktop), or TurboTax Self-Employed, (online), to complete your income tax return.  You will use the "Profit or Loss from Business" interview to enter information on Schedule C, which will become part of your 2016 income tax return.  The interview will ask about any 1099-MISC's you received and you can enter information off any 1099-MISC's you receive into TurboTax.  But there also is a "General" revenue category that TurboTax will ask about that would cover any business revenue you received that was not reported to you on a 1099-MISC.  The sum of any amounts entered via 1099-MISC's and any amount entered in the "general" revenue category will appear on line 1 of your Schedule C as your revenue for the year.

Tom Young

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