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

    Apr 9, 2009, 10:51 PM
    Report income from consulting work
    I did some consulting work and received payment for these services. I did not receive 1099 forms for these payments. How do I go about to report these income. I use turbo tax to prepare. The soft ware refers to form 1099 but I did not receive these.

    Appreciate your help on this question
    KISS's Avatar
    KISS Posts: 12,510, Reputation: 839
    Uber Member
    		  
    #2

    Apr 9, 2009, 11:02 PM

    Report on Schedule C. See instructions here: http://www.irs.gov/pub/irs-pdf/i1040sc.pdf

    Your company name is yourself.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #3

    Apr 10, 2009, 07:57 AM

    If you get 1099-misc, the IRS treats you as a self employed or independent contractor. You
    You will report your income and expenses on schedule C or C-EZ (Form 1040). Then you put net income (or loss) on line 12 of Form 1040. This income is subject to SE tax at 15.3% (this is shown on line 57 of Form 1040). Half of SE tax is deductible on line 27 of Form 1040. Read: Your U.S. Tax Return: Tax Filing by Self Employed Sole Proprietor or Independent Contractor
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