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How do i file a 1099-MISC form?

My employer sent me a 1099-MISC form and I'm not sure how to file it. I have a W-2 as well from my regular job. Can I file them together on a 540 somehow?

Update:

Is this income fileable on a 540 in the "California non-taxable interest or dividend income" field?

Update 2:

So I just need to fill this one form out with the 1099-MISC info and my W2 info?

http://www.irs.gov/pub/irs-pdf/f1040.pdf

7 Answers

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  • ?
    Lv 7
    1 decade ago
    Favorite Answer

    It is fully taxable as self employment income.

  • 1 decade ago

    If the 1099 was reporting dividend or interest income it should not have been a 1099-MISC but a 1099-B or 1099-INT.

    Which box has amounts in them on the 1099-MISC?

    Most monies typically reported on a 1099-MISC should be included on Form W-2 for employees. There are exceptions for manufacturer's incentives -- sometimes called SPIFFs -- but those would be issued by the manufacturer, not the employer, even though the employer may send or hand the 1099-MISC to the employee.

  • Anonymous
    1 decade ago

    Your employer is only supposed to give you a W-2. As boston pointed out, if you work in, say, the car industry, you may have gotten a bonus by way of the manufacturer. if so, the 1099-Misc is NOT in the name of the employer, but the manufacturer. This is called a SPIFF and reported as other income and not on schedule C.

    If your employer gave you both a W-2 and a 1099-Misc (same EIN), something is wrong.

  • 1 decade ago

    Download a Pub 17 at IRS.GOV and read up on taxes as they pertain to you. A 1099-Misc means you were treated as a self employed contractor; you file a Sch C and SE with your 1040; your W-2 income goes on the wages line of the 1040. You supplement it with a Sch M for your making work pay credit; and so on. If you are not sure it might be wise to invest a few dollars in a tax preparer who has a few college degrees, training on the tax framework in place for the tax season, criminal background check, fingerprinting, licensing and registration as per IRS rules and regulations and so on. Make sure it is done right the first time or be prepared to do it over.

  • tro
    Lv 7
    1 decade ago

    when you get a 1099 M you file that income on a sch C and if the 'net' amount is $400 or more you will also file Sch SE and calculate your self employment tax, approx. 15.3% of your Sch C net

    this will be reported on the 1040 on the appropriate line for business income, wages are entered on line # 7

    half of the se tax is a credit to reduce your gross income

    when you file a 540, you bring the federal information to the 540 but since you have these additional schedules, you include a copy of your 1040(complete) with the 1040--it is not necessary to include the SE with the state return, there is no self employment tax in Calif

  • Judy
    Lv 7
    1 decade ago

    You'll need form 1040, and schedule C or C-EZ, and schedule SE, for federal.

    Don't know what all you need for your state return for CA, but no the 1099-misc info does NOT go on the interest and dividend line.

  • wg0z
    Lv 7
    1 decade ago

    you dont file it, it's already filed by the issuer. you use the data from it to complete your tax return.

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