Personal Finance & Money Asked on February 7, 2021
I have some stuff from last year that I want to report, I just don’t have the information the IRS forms ask for.
I know how much I made and I know what percentage to pay taxes on, but for voluntary compliance purposes I don’t know how to report it.
Its freelance/contractor/self-employment work, so does it go on the 1099-misc?
The 1099-misc asks for an individual’s SSN or their Employer ID number, and it assumes that they sent a copy of the 1099-misc in as well. This didn’t happen and the amounts are over $600 , uh oh.
Anyway, is this the proper form and what do I write down for the SSN? I can’t go around asking for social security numbers!
how do people approach this problem
It's the employer's job to get the 1099-MISC to you. They should have asked you to fill out a W-9, which would give them your SSN or TIN so that they could file the 1099-MISC if they needed to.
They should have gotten this from you before they paid you a dime. Now they're late. You should have received it by the end of January.
As the person receiving the money, it's not your job to file the 1099-MISC.
But it is your job to report your income on your tax return, and you can do that without the 1099-MISC.
Answered by mbhunter on February 7, 2021
In fact you can go around asking for social security numbers if you paid someone more than $600. Then you would file 1099-MISC.
If someone paid you more than $600: they should ask you for form W-9 and give you a copy of 1099-MISC they filed with the IRS.
But when you're doing your tax return, the forms hardly matter. You just add up your total income and present the final number. If you have expenses related to the work, or a home office, then file it all on Schedule C and take some sweet deductions for legitimate business expenses.
In short, it does not matter to you if the 1099-MISC arrives. It's on them, not you. Of course you could give them a courtesy call just to be helpful.
Answered by Bryce on February 7, 2021
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