can i claim 1099 income as earned income?

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can i claim 1099 income as earned income?

2007-01-22 10:58:44 · 3 answers · asked by naiamoon 1 in Business & Finance ➔ Taxes ➔ United States

3 answers

Yes, it is. For most purposes though like EIC, it's your NET, not GROSS, that counts.

2007-01-22 11:47:52 · answer #1 · answered by Judy 7 · 0⤊ 0⤋

1099 income is just income from which no taxes or social security monies were withheld when you were paid.. You MUST claim it as income when you file your taxes. That's why you get a 1099 form from the employer rather than a W-2 form.

2007-01-22 19:10:03 · answer #2 · answered by Sweet Lady Mom 2 · 0⤊ 0⤋

Wage stips and other compensation

2007-01-22 19:03:15 · answer #3 · answered by golferwhoworks 7 · 0⤊ 0⤋