Solved

Does a 1099-Misc with Box 7 amount require filing as self-employed if advising activity was only done 3 times for 3-4 days each. only other income - pension and SSA?

Forum|Forum|7 years ago
June 1, 2019
1 reply
0 views

Wife is retired. Amount in box 7 is $8731.00. She does not do this advising on a regular basis, this was a one time deal. does she need to pay self-employment tax or can the amount be filed just as "other income"?

TurboTax Free Edition Online

Best answer by PaulaM

According to the 1099-MISC box 7 instructions below, If the amount in this box is SE income, report it on Schedule C or F (Form 1040), and complete Schedule SE (Form 1040).

If you are not an employee but the amount in this box is not SE income (for example, it is income from a sporadic activity or a hobby), report it on Form 1040, line 21.

To report on line 21, select Wages & Income, Less Common Income, Miscellaneous Income. The select Hobby income to enter a description and amount. You will need TurboTax Deluxe to enter this type of income. The $8,731 income will be listed on line 21, but you won't have self-employment taxes.

https://www.irs.gov/pub/irs-pdf/f1099msc.pdf

P

PaulaMAnswer

Employee

According to the 1099-MISC box 7 instructions below, If the amount in this box is SE income, report it on Schedule C or F (Form 1040), and complete Schedule SE (Form 1040).

If you are not an employee but the amount in this box is not SE income (for example, it is income from a sporadic activity or a hobby), report it on Form 1040, line 21.

To report on line 21, select Wages & Income, Less Common Income, Miscellaneous Income. The select Hobby income to enter a description and amount. You will need TurboTax Deluxe to enter this type of income. The $8,731 income will be listed on line 21, but you won't have self-employment taxes.

https://www.irs.gov/pub/irs-pdf/f1099msc.pdf

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"