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    AJU9177's Avatar
    AJU9177 Posts: 1, Reputation: 1
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    #1

    Feb 2, 2009, 09:23 PM
    1099 form
    What if I got a form 1099 nonemployee compensation for 2,000 do I owe that money?:(
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Feb 2, 2009, 11:51 PM

    You are self employed or independent contractor. You must file your tax return if yourself employed income is $400 or more. You will report your income and expenses on schedule C or C-EZ (Form 1040). This income is subject to SE tax at 15.3%. Read: Your U.S. Tax Return: Tax Filing by Self Employed Sole Proprietor or Independent Contractor
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