You'll need to sign in or create an account to connect with an expert.
Then you are self-employed, at least because of the side job. You owe self-employment tax on the net profit plus income tax.
If your employer pays you on a W-2 and also gives you a 1099-MISC for a bonus or something, that is incorrect. All your wages should be on a W-2 and by giving you a 1099-MISC, the employer is trying to dodge his share of social security tax. In turbotax, after entering the 1099-MISC, look for a checkbox on the next page for special circumstances "this money should have been on my W-2."
If your primary employer only gives you 1099-MISC forms, then they are treating you like an independent contractor. This may or may not be correct. You can dispute it if you want, the IRS will investigate. https://www.irs.gov/businesses/small-businesses-self-employed/independent-contractor-self-employed-o...
Then you are self-employed, at least because of the side job. You owe self-employment tax on the net profit plus income tax.
If your employer pays you on a W-2 and also gives you a 1099-MISC for a bonus or something, that is incorrect. All your wages should be on a W-2 and by giving you a 1099-MISC, the employer is trying to dodge his share of social security tax. In turbotax, after entering the 1099-MISC, look for a checkbox on the next page for special circumstances "this money should have been on my W-2."
If your primary employer only gives you 1099-MISC forms, then they are treating you like an independent contractor. This may or may not be correct. You can dispute it if you want, the IRS will investigate. https://www.irs.gov/businesses/small-businesses-self-employed/independent-contractor-self-employed-o...
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
wagsyardsolution
New Member
kirbyfred
New Member
rickmjonesperez
New Member
laurie9916
New Member
s0u1ma7e
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.