Ask Experts Questions for FREE Help !
Ask
    mailtovasu3's Avatar
    mailtovasu3 Posts: 4, Reputation: 1
    New Member
    		  
    #1

    Feb 8, 2007, 12:17 PM
    1099 Misc for a referral fees
    Hi,

    Myself Vasu, working as a IT analyst, I received one 1099-Misc form for referral fee paid by my friend for referring a project and 1 candidate to their company...

    Right now I am on H1 B and I get W2 from my current employer and my friend IT company is no way related to my employer...

    How to accommodate this in filing a return this year and what are pros and cons of this situation.

    Thanks in advance,
    Vasu
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Feb 8, 2007, 07:17 PM
    Vasu:

    There are NO pro and cons. You must report the 1099 income.

    Now, referral income is NOT self-employment income, so you probably can just report it on Line #21 (Other Income) on Form 1040.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

1099 Misc [ 1 Answers ]

Hi! My husband is in the military & we were in Japan for the last 3 years. I worked as a Vendor or Sales Agent for 7days less than 40hours for a Jewelry Company that had a short term sales event at the Military Exchange Store. For all I know the income is tax free. Now, I received a 1099Misc. Do I...

1099-MISC and w2 [ 1 Answers ]

Hi, Me and my wife both were on H1 last year. I had 2 W2s last year, and my wife was working as a contractor for the first 3 months last year and then she was on a W2 for the rest of the year. She got a 1099-MISC from the contractor for the first three months of last year. Could you tell me...

1099-misc [ 10 Answers ]

I have a 1099-MISC form from my employer. I was an F-1 visa holder under the OPT, work permit last year when I worked for two months. I have an amount in box 7 and zero for Income tax withheld. I gather, as a non-resident alien, I am filing 1040 NR, but I don't know where I am putting down this...

1099-Misc [ 4 Answers ]

I work for a real estate investment company and they had me do some odd jobs in the evenings. I posted signs and mailed flyers for them. I also received two commission checks for referring investors and a performance bonus for having a house sell at an open house. My question is why I received a...

1099-misc for h-1 [ 1 Answers ]

Hi, Can a person on H-1B working for only one employer receive 1099-MISC instead of W-2 from that employer? Thanks.

View more questions Search