MaSynco
Jan 23, 2009, 09:09 AM
I have never done taxes. I received a 1099-MISC and on #7 it says Nonemployee Compensation $2099.00. What does this mean?
AtlantaTaxExpert
Jan 23, 2009, 10:52 AM
It means that you were self-employed and need to file Form 1040 with a Schedule C and probably Schedule SE.
You will owe ZERO income taxes, but you may need to pay some self-employment tax (but not more than $300).
You should get professional tax help to file this return. It is NOT a return for a laymen to file.