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L
lat-24153
February 3, 2023
Question

Hi!Why is a 1099-NEC for approximately $2,000, costing me almost $800 of my refund?

  • February 3, 2023
  • 1 reply
  • 0 views
It's Amazon Vine, BTW

1 reply

M
mglauner
February 3, 2023

Since your 1099-NEC does not have Federal Tax withheld, you will owe tax on this income.

 

Be sure that in reporting your 1099-NEC income as Self-Employment Income, you don't forget to claim expenses against this income.  

 

Type 'Schedule C' in the Search area, then click on 'Jump to schedule c' to get to this section. 

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