1099 Misc - where to claim this income on my return?

Question

I have non-employee compensation on a 1099-MISC form. Where do I claim this income on my 1040EZ? Or do I even have to?

I would like to know the exact line on the 1040 EZ because I'm not seeing it.

Nobody's listening. I want to use the EZ form. The lines go up to 13 and I don't see any spot for other income than wages and salaries.

P.S. On the 1099 - MISC it's in box 7 - Non-employee compensation. But I'm not self-employed, I just work as a separate party doing bookkeeping for a tiny company a few hours a month.

Answer 1

Yes, you have to claim it. And your wanting to use the 1040EZ form has nothing to do with reality - with the 1099 income, you aren't eligible to use that form. Period. Complaining that nobody's listening makes no sense.

You'll need a form 1040, a schedule C or C-EZ, and a schedule SE to calculate self-employment tax. And don't say you're not self-employed - if you have non-employee compensation showing on a 1099, then by definition you are.

Answer 2

Actually our prime tax preparers got this one wrong. If the 1099-Misc has the $3500 in box 3 (prize money), this is not earned income. Therefore, even if this is the dependent's ONLY income, the dependent's standard deduction won't cover it. As unearned income, he only gets an $850 exclusion. Thus he would owe about $265. If it's prize money and he had, say, a $1000 in wages, the standard deduction would be higher, but only about $1300, since you only get $300 for unearned income. At that, he'd owe about $320 in additional tax. If it's not prize money, but the dreaded box 7 (SE income), the SE tax would be $495...If the rest of the income was $5350 or less, he wouldn't owe income tax.

Answer 3

the correct answer depends on which box the income is listed in on the 1099 misc. the box number for the income dictates where to report it and how ..........
most 1099 misc are for self employed income and is subject to self employment tax and there are cases when the income is not self employed income and is reported on line 21 as other income. ( i can assure you this is possible but is really not common) check out www.irs.gov for the proper way of reporting (dictated by the box for the income on the 1099 misc)

Answer 4

for this income you will be considered to have been self employed,, so you will either file a schedule C or CEZ if you qualify. The earning from this form go on line 12 of form 1040
The self-employment profit will also go to Schedule SE if more than $400. and this form is where you figure self employment tax. (social security tax)
Don't forget to transfer 1/2 of tax from SE to line 27 of form 1040 for deduction.

Answer 5

There is a line called "OTHER INCOME." That is where it goes. And since the IRS has a copy of that 1099-MISC in their hands, it definitely does have to go there.

Answer 6

To answer your question, this is considered self employment income and you have to file a schedule C. You cannot use a 1040EZ to report this income.

Answer 7

You can use C-EZ but it needs to be attached to a 1040.