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Level 1
February 22, 2021
Question

SELF EMPLOYMNET INCOME

  • February 22, 2021
  • 2 replies
  • 19 views

CAN SOMEONE TELL ME WHERE TO ENTER INCOME NOT REPORTED ON A 1099

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2 replies

qbteachmt
Level 15
February 22, 2021

Being reported on a 1099 or not, has to do with reporting requirements to the tax payer. Not to the rules for the tax payer including it on their tax return.

You can be in business, make $3million gross, and as long as no other business people paid you $600 or more each for services to them, you would never get a 1099-NEC from anyone. You still report the $3million for tax purposes.

You are going to need to provide more details. What sort of income activity?

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Just-Lisa-Now-
Intuit Community Champion
February 22, 2021

Self employment income would be entered on Line 1 of the Sch C.

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