Question

I received a corrected 1099 that moved the income amount from box 3 to box 7. I claimed the correct amount. Do I need to amend my return?

Forum|Forum|6 years ago
February 26, 2020
1 reply
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TurboTax Self Employed Online

It depends. Box 7 is "non-employee compensation" and typically results in "self-employment tax" on the income, unless that income is offset by expenses related to the income.

So, you may owe additional tax for self-employment tax on the box 7 income if it was not reported as subject to self-employment tax.

But, if you reported the income correctly on your tax return (e.g., on a Schedule C, as if it was box 7 income) you do not need to amend your tax return just because you got a corrected form.

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