I received 1099-MISC for proctoring SAT exams. It shows the total amount that I received & states the amount that has been reported to the IRS on magnetic tape.Do I report this amount on my taxes? If so,how? My 1099 doesn't have boxes with info, only a total.
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This income needs to be reported on your taxes. Is this income that you do not routinely receive, and is not in the nature of your occupation, you should not have to pay self-employment taxes on this income, just Federal Income tax.
In the search box, type 1099-misc, click find
A "jump to" option opens up.
I would recommend using box 3 -other in Turbo Tax to include the income. If this income was part of a business (even a side business) you will need to pay self-employment taxes on the income. Turbo Tax will ask a series of questions to determine how to classify the 1099 income.
This income needs to be reported on your taxes. Is this income that you do not routinely receive, and is not in the nature of your occupation, you should not have to pay self-employment taxes on this income, just Federal Income tax.
In the search box, type 1099-misc, click find
A "jump to" option opens up.
I would recommend using box 3 -other in Turbo Tax to include the income. If this income was part of a business (even a side business) you will need to pay self-employment taxes on the income. Turbo Tax will ask a series of questions to determine how to classify the 1099 income.
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