Questions tagged [form-1099-misc]

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33 views

I received a PhD stipend that was not under a fellowship. How do I report it if it was meant to be research funding?

Normally my research advisor and professor gives me my stipend through the school, which processes it as a W-2 form. However, he moved to another university in 2018. To give me my funding for research,...
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25 views

Can I report 1099 income earned in December and paid in January in 2019? [duplicate]

I provided service in December 2019 and was paid on January 10th 2020 for that service. Can I report that in the 2019 tax filing period?
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19 views

How to approach a federal documentation while considering self-employment obligation/mismatches in info

Most people who work probably do so through normal employment where their incomes are readily apparent. If one works as a self-employed individual then the burden/obligation rests on them to report ...
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1answer
37 views

Government knowledge of tax filing from industry as a self-employed individual

Say I am self-employed and work through 'X' platform. The platform claims to only report and/or provide tax documentation if you meet a certain threshold. Given I do not reach this threshold and the ...
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1answer
32 views

1099-MISC unearned income for dependent

Both my children (1 & 4) received a 1099-MISC for unearned income ($922) from our tribe's gambling profits. Do they need to be report?
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16 views

West Virginia or New Jersey state income taxes

I live in Texas. I receive oil and gas royalties income from my properties in West Virginia. I have the 1099-MISC. The company that sent me the 1099 MISC is located in New Jersey. What state do I ...
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0answers
65 views

H1B Temporary Worker/ 1099 MISC Income

I am a H1B temporary worker in the united states at the moment. Last year, there was a pilot TV series filming in our apartment of residence which resulted in some inconvenience for me as a resident. ...
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1answer
47 views

business expenses for previous year

It's my understanding that, right now (Feb 21) at least, I can put money into an IRA and have it count towards my 2019 taxes (if I haven't filed yet) instead of my 2020 taxes. Can I do the same for ...
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1answer
261 views

1099-MISC for dependent

My 16-yo (dependent in my returns) won a science fair competition in May 2019 and received a check for $2000. Last week we received a 1099-MISC with that amount in Box 3. How should I handle filing ...
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1answer
126 views

Employer didn’t treat J-1 intern as employee

I visited the US on a J-1 Visa as an intern for 7 weeks. My employer wasn’t withholding any income for taxes, so I paid estimated tax once I received my final paycheck with a plan for my employer to ...
3
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1answer
61 views

Form W-9 for payments between property management companies

I collect rent on behalf of a client, deduct a management fee, then send the remaining rent to the client. One client's residential property is leased by a company who is a "master tenant." This ...
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1answer
136 views

Is it necessary to pay quarterly earnings taxes in US?

I worked as an Independent Contractor (for the first time ever) during September and October which means that I owe quarterly taxes that are "due" on January 15th. I also worked as a full-time ...
4
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1answer
425 views

How do I avoid having my revenue taxed twice by the IRS?

I do affiliate marketing for a living. The commission payments get transferred into my business PayPal account and the various businesses also send me a 1099. Normally I would just list the 1099s on ...
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25 views

W-9 requirements for product vs service provided

As a company, would we need to obtain a W-9 (& file a 1099) from an individual that we purchased a horse or a horse trailer from?
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2answers
2k views

Do I have to wait for my W-2s to fill my tax return for the previous year?

First year out of college (and my first paid jobs ever). I worked at 3 different companies last year (2 as a full-time employee and 1 as an independent contractor (1099-MISC)). Do I need to wait for ...
2
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1answer
35 views

Do foreign persons need to file 1099s?

Do foreign persons need to file 1099s. If so, how do they do so without a TIN? For example, let's say a foreign person visits the United States and hires a chauffeur and pays them several thousand ...
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1answer
171 views

How is a plumber different than a landscaper as far as requiring a 1099?

I have read blogs that claim I need to file a 1099 if I hire a gardener to mow my lawn or a snow plow guy to do my driveway and pay them more than $600 per year, even if that contractor has lots of ...
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1answer
219 views

1099-Misc Box 3 income that maybe should be Box 7

As my main job, I am a college math professor (W2 wages). Last summer (2018), independent of my main employer, I worked teaching math to high school students and was paid 10K for it. I received a 1099-...
4
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1answer
398 views

How to report 1099-MISC Box 7 bonus ($0 in box 3), but not an independent contractor and not self employed (payment from client of my employer)

I work for a concessions company, but I received a 1099-MISC from the company's client (the team). It's an end-of-year discretionary bonus for taking care of guests of the team as part of my normal ...
2
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0answers
81 views

How to deduct subway commuting and rent as a part-time remote contractor on a 1099-MISC?

I am working on a 1099-MISC as a consultant to a tech company. As an independent contractor, I decide the locations from where I provide my services. Most of the time, I am on site at the business ...
3
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1answer
141 views

Managed rental property: income from late fees. How to report on Schedule E?

We have a rental property that is managed by a property management company. This year, our tenants have paid late fees in addition to the rent. The management company filed these fees under Box 3, '...
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0answers
86 views

1099-Misc Box 3 Other Income

I am retired and receive a small amount from a family trust for which I am a trustee. When I was working I had more than enough earned income to make the maximun IRA and Spousal IRA contributions ...
2
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1answer
226 views

With which state/s must the payer file Form 1099-MISC?

I'm the president of a C corporation that's incorporated in Delaware. The C corp is physically located in Connecticut (where I live and work). My cofounder lives & works in Colorado. So, we have ...
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1answer
80 views

Why 1099-MISC for LLC but not a corporation?

I have a couple side gigs, and every January I get a little annoyed because I need to send out 1099-MISC forms for various payments to contractors and the like. According to IRS rules you must send ...
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1answer
41 views

Post tax HSA contribution but did not have HDHP for that year

I have an existing HSA but did not have a qualifed HDHP in 2017. I enrolled in a HSA-qualified HDHP for 2018 and made a post-tax contribution to my HSA in January, 2018 but it was applied to 2017. My ...
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2answers
68 views

Does one of the US Income Tax free file services allow for no-fee 1099 entry?

I've started to file my income tax with the HR Block free file service, but I'm getting hit with a 30 dollar upgrade prompt when I go to put in my 1099s. I have one capital gains 1099-MISC, one ...
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0answers
245 views

Can earnings reported in boxes 3 or 7 on a 1099-misc be contributed toward an IRA?

I'm trying to understand the 2017 IRA contribution limit as it relates to income reported in boxes 3 "other income" and 7 "Nonemployee compensation" on the 1099-misc. This is money paid to a graduate ...
2
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1answer
168 views

Can I deduct some of the costs for a car if I write about it on my for-profit blog?

To preface, my goal is not to game the tax system. I'm trying to understand this to see if it is financially reasonable. So I am legitimately interested in starting a blog/YouTube channel in the tech ...
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1answer
90 views

Deducting purchase of investment property

I am buying a multi-family house as an investment property. I'll be buying it using an LLC that I use for investment properties. No part of the house will be my personal residence. Much of my income ...
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2answers
3k views

1099 Misc for taking care of foreign exchange students

I was asked to host 2 foreign exchange students. They will give me $2000 per month for expenses and a 1099 Misc at the end of the year. Will I be considered self employed? Will I have to pay social ...
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0answers
211 views

Do I need to 1099 my attorney in a settlement that paid the attorney directly?

Do I need to send my attorney a 1099 if they were paid directly in a settlement but I got a 1099-Misc box 3 (other income) from the other party who paid the attorney the full amount of the settlement (...
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0answers
54 views

1099-MISC and state file taxes

I received 1099-misc for a work from home part-time job for $6,500. No state taxes were withheld. I'm located in Maryland and the employer is in Connecticut. Am I supposed to file state taxes for ...
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1answer
172 views

Is a signing bonus considered reportable income?

I received a $2,000 bonus for signing a Letter of Intent to sign a contract leasing our farm land to a solar energy developer. The lease ultimately fell through due to technical complications, but I ...
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0answers
76 views

Where to report 1099-Misc income and attorney expenses for a lawsuit settlement? [duplicate]

I personally received a 1099-Misc for a settlement income with a creditor that was incorrectly reporting information on my credit report. The settlement read in part: Bank agrees to pay Customer $...
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1answer
3k views

How to determine whether 1099-MISC income is from self-employment?

I have income that was reported on Form 1099-MISC, Box 7 (nonemployee compensation). I understand that if it is self-employment income, it should be reported on Schedules C and SE, and I would owe ...
1
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1answer
838 views

1099-MISC vs K-1 — duplicated numbers?

I work for an investment management company (nothing fancy, just some administrative role) and had the opportunity to invest in the fund our company runs as a part of employee benefits. Anyways, now ...
3
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1answer
216 views

Made more than $600. Company does not issue 1099-MISC's. Enter income as general income?

I made well over the $600 threshold to receive a 1099-MISC from the company. I contacted the company and they stated that "We do not send tax forms to any publishers". I'm using Turbo Tax Business to ...
2
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1answer
118 views

Miscategorized income on 1099-MISC

Around the middle of last year, I sold a vacant lot I owned to a Texas oil company. (They had offered to buy mineral rights; as I'd been trying to get rid of this property for years, I suggested an ...
3
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1answer
413 views

Could a legal settlement reported on 1099-MISC be taxed as capital gains?

I have a question regarding how a legal settlement payment should be handled for U.S. personal income tax purposes. This is a hypothetical scenario. A plaintiff agrees to accept a cash settlement ...
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0answers
168 views

Report KDP royalties on Schedule C or Schedule E?

I have some royalty income from selling an eBook on Amazon through Kindle Direct Publishing. I received a 1099-MISC for this income, which is listed in Box 2 "Royalties". It is my understanding that ...
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1answer
867 views

I was given a 1099-misc instead of a w-2 what are my next steps?

I received a 1099-misc from a past employer but I was under the impression I was an employee and not an independent contractor especially after I told my employer I did not want to get a 1099 at the ...
3
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1answer
3k views

How do I report book royalties for tax purposes?

I'm located in the US and received a 1099-Misc for approximately $125 of royalties I received from a book I wrote. I published the book through a publishing company, and I am not operating as a ...
3
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1answer
198 views

Does receiving a 1099-MISC require one to file a tax return even if he normally would not be required to file?

Suppose a person is self-employed and earning below the minimum income at which he is required to file. According to the Form 1040 Instructions Chart C, one of these requirements is: You must file ...
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1answer
145 views

Why does IRS propose to add in 1099-MISC income I already reported on Schedule C?

I received several 1099-MISC and reported this income on line 1 of Schedule C plus a bit more for which I did not receive any 1099-MISC. Now I'm getting a letter from the IRS proposing to change my ...
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1answer
287 views

Dealing with Form 1099

I'm running a small U.S. business. Some users make profit by referring customers to purchase services from me. I've been told that I have to send form 1099 to both users whom making such profit from ...
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2answers
947 views

why do companies do a 1099-MISC at all?

I've done consulting for a number of companies and some of them give out 1099-MISC's and some don't. My question is... why do any of them give out a 1099-MISC? If I wanted to subcontract out some ...
1
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1answer
633 views

Repairs to a house in order to rent it that were paid by the beneficiary, but is still owned by a Trust

1. Since my mother's Trust owns her house, & I paid the repairs out of my accts, how do I deduct them - or can I? My mother left her house to me, but it is still in her Trust until the other ...
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2answers
2k views

can you give a contest prize to a kid as a way to avoid paying taxes?

Let's say I won a prize with an approximate retail value of $15k (trip for two to some exotic location). Normally you'd have to pay like $6,000 or so in taxes. But what if you have a kid who's 20, ...
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0answers
1k views

How to report a 1099-MISC in a Qualified Joint Venture

"A qualified joint venture is a joint venture involving the conduct of a trade or business, if (1) the only members of the joint venture are a husband and wife, (2) both spouses materially participate ...
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1answer
580 views

Do contractors need to attach form 1099-MISC to their income tax return?

Is there a source stating that U.S. contractors who received 1099-MISC forms do or do not have to attach them to their federal or state return? My impression, after a bunch of searches, is that I don'...