My son had an internship at a college over the summer. He received form 1099 NEC for nonemploee compensation from the University. Is this considered self employment?
My son had an internship at a college over the summer. He received form 1099 NEC for nonemploee compensation from the University. Is this considered self employment?
Yes, Form 1099-NEC cannot be reported any way other than Self-Employment.
Since the University was not his employer, he will be responsible for paying his FICA tax (Social Security) which is referred to as Self-Employment tax.
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