If you received a 1099-MISC tax form for your services this is considered taxable income subject to both self-employment taxes and income taxes, but typically taxpayers incur expense while generating the income. For example, you are an employee of ABC Window Company which installs windows. On the weekend, a property management company contracts with you to install windows, they paid you directly and sent a 1099-MISC for your services.
The other issue might be where you received a 1099-MISC for a one and done deal, such as a speaking engagement. Provided you don’t hold yourself out to the public as a public speaker, then you will not be required to pay self-employment taxes on this income. Please let us know if this applies to you.
If you received a 1099 and you operate a business, please do NOT complete this online submit form. You need to complete the LLCs and Small Business Worksheet. The form below is more for side-gigs and one time deals.
This 1099 MISC Worksheet is also available in fillable PDF.