1099-MISC Question

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  • March 25, 2012 at 11:49 pm #168674
    RedStorm45
    Member

    There’s $1,700 in box 7 (nonemployee comp)…does this belong on the 1099-MISC or Schedule C?

    Starting all over.

    FAR - 11/27/13
    AUD - 1/4/14

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  • March 25, 2012 at 11:56 pm #335943
    HumanPiranha
    Member

    it depends on the situation, really. is this 1099 for something that is expected to be a one time thing or a regular occurrence?

    March 25, 2012 at 11:58 pm #335944
    RedStorm45
    Member

    Regular occurrence, I'm thinking Sched. C

    Starting all over.

    FAR - 11/27/13
    AUD - 1/4/14

    March 26, 2012 at 5:13 am #335945
    Anonymous
    Inactive

    On the tax program in my office, on the Schedule C, there is a special income line for 1099-Misc income, and if you double click that line you can fill out 1099-misc income information (such as box 7 non-employee comp) which will then flow through to the Schedule C.

    I got this from p. 5 of the following link: https://www.irs.gov/pub/irs-pdf/f1099msc.pdf

    “Box 7. Shows nonemployee compensation. If you are in the trade or business of

    catching fish, box 7 may show cash you received for the sale of fish. If the

    amount in this box is SE income, report it on Schedule C or F (Form 1040), and

    complete Schedule SE (Form 1040).”

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