1099-Misc Box 3 on behalf of friends
My friend in China was invloved in internet business with a US internet company. Since the US company refused to pay him because he does not have a SSN, he then borrowed my SSN (I'm a 2nd year F1 student) and got paid by the US company.
Now I received 1099-Misc with 10,000 income from his business in box 3 (Other income). The first question is, will this hurt my F-1 status? I don't know anything about his business and I'm not part of it either. I just give him my SSN so that he can get paid.
Secondly, how should I file my tax return for this income? Should I treat it as Prizes/Awards and pay full tax on it?
Thanks a million!