I am a retired insurance agent and will receive a lump sum in 2012 for my Extended Earnings.
Is this subject to Self-Employment Taxes? I have received conflecting answers ?
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I am a retired insurance agent and will receive a lump sum in 2012 for my Extended Earnings.
Is this subject to Self-Employment Taxes? I have received conflecting answers ?
How did you get paid when you were NOT retired?
If you were paid under Form w-2 as an employee, then your extended earnings will probably be reported the same way.
If you were paid under Form 1099-MISC as non-employee compensation (Block #7), then, logically, your extended earnings will be reported similarly.
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