I am an architect and I have a full time job. I did a small amount of freelance work for a church. They paid me a total of $1500. What forms will I need to file for this income when I do my taxes?
2007-02-02 07:04:36 · 3 answers · asked by elrb 1 in Business & Finance ➔ Taxes ➔ United States
The 1099 is correct!
2007-02-02 07:13:10 · answer #1 · answered by SantaBud 6 · 0⤊ 0⤋
There are two ways to handle this:
1. If you have expenses related to the freelance work you did then file a schedule C.
2. If you didn't have any expenses related to your income then simply put the $1,500.00 on line 21 of the 1040 (Other Income). If you go this route, make sure that you make this income subject to SE (Self-employment tax).
Hope this helps.
2007-02-02 07:16:28 · answer #2 · answered by CPA 2 · 0⤊ 0⤋
The IRS assigns its 1099 form for just such occasions.
2007-02-02 07:10:06 · answer #3 · answered by Anonymous · 0⤊ 0⤋