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Article · Tax

You got a 1099. Now what?

Check it, report the income, and see whether you owe estimated tax.

In plain words

Check the payer, your name and taxpayer ID, and the amount. If something is wrong, ask the payer for a corrected form.

Report the income on your return even if a form never arrives. Contractor income usually goes on Schedule C, with self-employment tax on Schedule SE.

Because no tax was withheld, you may need to make estimated tax payments during the year.

Updated 25 days ago from TaxReviewed by the Atlas teamGeneral information, not advice for your situation

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