I have never done taxes. I received a 1099-MISC and on #7 it says Nonemployee Compensation $2099.00. What does this mean?
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I have never done taxes. I received a 1099-MISC and on #7 it says Nonemployee Compensation $2099.00. What does this mean?
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.
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