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In the eyes of the IRS, when your compensation is reported on a Form 1099-MISC, you are considered self-employed. You need to report your income and expenses on Schedule C.
https://ttlc.intuit.com/replies/4771022
In the eyes of the IRS, when your compensation is reported on a Form 1099-MISC, you are considered self-employed. You need to report your income and expenses on Schedule C.
https://ttlc.intuit.com/replies/4771022
If
your Form 1099-MISC shows an amount in Box 7 for nonemployee compensation and
it’s because you did consulting work or other services for someone, based on IRS regulation, you DO now "have
a business and are considered self-employed!
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