I received a 1099-misc for tax year 2007. This will be my first time filing this kind of income. Box 6 (medical and healthcare payments) was completed because I received money from my grandmother's estate to care for her a few days every month last year. I will continue to do so throughout 2008 as well, so I'll be going through this again next year.
I've prepared my taxes using Turbotax.com and I am amazed at how much the 1099-misc income affected my refund. I also don't understand why I am considered to own a business. I don't have a TIN, nor am I claiming any expenses. Is there another way I should be filing this income? Do I need to get a TIN for my 'business'? Should I be paying quarterly taxes?
Thanks for any help you can give.