I have a 1099-MISC with Box 7 nonemployee compensation. I don't have a business, why do I have to do a Schedule C ?

Nonemployee compensation on a 1099-MISC is self-employment income and needs to usually be reported on Schedule C (or Schedule F if it is farm income) even if you are just doing a little bit of work on the side and do not have an official business. The IRS considers any income reported in Box 7 of the 1099-MISC as self-employment income and looks for it to be reported on either Schedule C or F.

Deluxe Edition

Includes All Free Features PLUS:

Audit Assist

Protect your taxes with Audit Assist!

Over 1.7 million taxpayers were audited last year... let us help. Our tax professionals will assist you if you are audited by the IRS. Get the peace of mind that comes from knowing you are covered.

Included with DELUXE...
Find out More!

Free Edition

FREE Federal, FREE e-file:

Our online application is designed to be simple and fast. Most returns can be completed within 30 minutes. No software to download. Use any computer that has an internet connection.

© 2002-2013 FreeTaxUSA, a TaxHawk, Inc. owned and operated website - Terms of Use