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1099-MISC, Independent Contractors, and Self-Employed

Question: I received a Form 1099-MISC with an amount in box 7 for nonemployee compensation. What forms and schedules should I use to report income earned as an independent contractor?

Answer:

Independent contractors report their income on Schedule C (Form 1040) (PDF), Profit or Loss from Business (Sole Proprietorship), however you may qualify to use Schedule C-EZ (Form 1040) (PDF), Net Profit from Business (Sole Proprietorship).

  • You should also be aware of Schedule SE (Form 1040) (PDF), Self-Employment Tax, which must be filed if net earnings from self-employment are $400 or more. This form is used to figure your social security and Medicare tax which is based on your net self-employment income.
  • You may need to make estimated tax payments. Refer to Form 1040-ES (PDF), Estimated Tax for Individuals, for more details on who must pay estimated tax.  If you need to make estimated tax payments and do not pay them timely, you may also need to file Form 2210 (PDF), Underpayment of Estimated Tax by Individuals, Estates & Trusts.

Additional Information:


Category: Interest, Dividends, Other Types of Income
Subcategory: 1099 MISC, Independent Contractors, and Self Employed

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The OMB number for this study is 1545-1432.
If you have any comments regarding this study, please write to:
IRS, Tax Products Coordinating Committee
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