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K
kat2015-
May 3, 2025
Question

Insurance agent won an insurance co. contest drawing for $5K and reported on a 1099-NEC as "Misc", do I owe SE tax? IRS inquiring about the $5K.

  • May 3, 2025
  • 1 reply
  • 0 views
The 1099 total is $5,818. $5K was won in a drawing. The $818 was paid as incentive for policies sold. None of the $5,818 is commissions. It is extra contest winnings.
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