I have a 1099-MISC from a student loan provider (Sofi) for $600 in Box 7 for referral bonuses. Should I mark yes or no about it involved an intent to earn money?

[Ashby · Accepted solution]

You should mark no. These referral bonuses should be considered one time income. If you mark "no", income will not be subject to self-employment tax. This income will be reported on your 1040, Schedule 1, Line 21.