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    SSKK01's Avatar
    SSKK01 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 31, 2008, 03:42 PM
    1099 job on opt
    Hello.

    I am an f1 student currently on opt.

    I have been offered a 1099 position for 6 months at $50 per hour.

    Is it the standard 33% or will it be more than that?

    What is the percentage of tax that I must pay?

    Thanks in advance
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Apr 1, 2008, 05:51 AM
    The 1099-Misc income is reported on schedule C (Form 1040). You can deduct your business related expenses. On OPT, you don't pay 15.3% SE tax on this income. Only residents pay SE tax.

    How you will treat the 1099-Misc income, read: Your U.S. Tax Return: W2 or 1099: Employee or Independent Contractor.
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