jeannie89
Apr 13, 2009, 05:05 AM
I received a bonus in 2008 from my employer and it was reporte on a 1099-misc in box 7.
How do I report this w/o claiming it as self-employment
AtlantaTaxExpert
Apr 16, 2009, 11:13 AM
You can report it on Line #21 of Form 1040, but if it is over $3,000, the IRS will probably question the validity of reporting it on Line #21 and REQUIRE you submit it under a Schedule C and SE.
If possible, go back to the employer and have him move the bonus to Box #3 (Other Income) with a corrected Form 1099. Then reporting it on Line #21 will not be a problem.