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February 14, 2023
Question

Payer on 1099 nec

  • February 14, 2023
  • 2 replies
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I work Door Dash. who would be the payer on the first question on 1099 nec? My name or Door dash?

    2 replies

    February 14, 2023

    The payer would be the company you work for, Door Dash in this instance.

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    VolvoGirl
    February 14, 2023

    Actually I would just enter your total income as Other self employment income or as Cash or General income.  You don't need to get a 1099NEC or 1099Misc or 1099K.  Even if you did you can enter all your income as Cash.  Only the total goes to schedule C.

     

    You need to fill out schedule C for self employment business income and pay self employment tax in addition to regular income tax on it.  The SE tax is to pay Social Security and Medicare tax that wasn't taken out like on a W2.

     

    You use your own name and ssn or business name and EIN if you have one.   You should say you use the Cash Accounting Method and all  income is at risk.  After you put in your income and expenses  if your net profit is $400 or more you will pay 15.3% for 2013  Self Employment tax in addition to your regular income tax.  The Schedule SE will be automatically filled out for it.

     

    You can enter Self Employment Income into Online Deluxe or Premier but if you have any expenses you will have to upgrade to the Self Employed version.

     

    How to enter income from Self Employment

    https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

     

    Here is some IRS reading material……

     

    IRS information on Self Employment

    http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employed-Individuals-Tax-Center

     

    Pulication 334, Tax Guide for Small Business

    http://www.irs.gov/pub/irs-pdf/p334.pdf

     

    Publication 535 Business Expenses

    http://www.irs.gov/pub/irs-pdf/p535.pdf

     

    You pay Self Employment tax on $400 or more of net profit from self-employment in addition to any regular income tax.  You pay 15.3% SE tax on 92.35% of your Net Profit greater than $400.  The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare.  So you get social security credit for it when you retire.