What if I received a 1099 MISC but I am not selfemployed? www.form1099online.com
If you are considered as an independent contractor, then you will get 1099 MISC if the payments made for rent, royalties, prizes or rewards, etc.
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For self-employed individuals, there will be Social Security and Medical payment taxes on the 1099 income earned.
When you earn non-employee compensation reported on 1099 NEC, the IRS treats it as self-employment income. ● Hence, you may end up paying Social Security and Medicare taxes.
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So, if you receive 1099 MISC reporting amounts in box 1 or 3, you don’t have to worry about the selfemployment taxes. Because the rent goes on Schedule E and the other income on line 21 of Form 1040.
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