Questions & Answers

I have a 1099-MISC with nonemployee compensation, but I don't have a business. Why do I need 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.

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