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8
86c595490c05
April 12, 2024
Question

If I have 1 1099-nec with box 1 income 773.00 and that’s all for 2023 what do I do?

  • April 12, 2024
  • 1 reply
  • 0 views
How do I file this amount ?

1 reply

KrisD15
KrisD15
April 12, 2024

It will be recorded as Self-Employment income because that is what Form 1099-NEC is used for. 

You will be charged "Self-Employment" tax which is the FICA tax an employer would have withheld had you been a W-2 employer.

If this is a one-time thing, tell the program the business started and ended in 2023 so the program does not bring up Schedule C again next year. 

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