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Ok I have a question about my 1099 tax form?
So in January I got my W2 tax returns, so I filed them, and received the money. But, today my boss just gave me a 1099 Tax Form. It list me in box 7 as having a Nonemployee Compensation of about 300 dollars. This is the Box 7 instructions: "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 the fish. If the amount in this box is SE income.......You received this form instead of Form W-2 because the payer did not consider you an employee and did not withhold income tax or social security and medicare tax....." And there was more. Am I still going to have to pay it? I just feel like something is wrong with what my boss is doing because even the instructions said I would have received this instead of a W-2, but they gave me one earlier in the year!
4 Answers
- ninasgrammaLv 77 years agoFavorite Answer
If you did not provide nonemployee services to your employer, have the employer correct or delete this form. If you did provide nonemployee services to this employer, you should amend your tax return and pay income tax on this amount.
I would challenge your employer as to why he is giving you another income document late in March.
- Valleycat1Lv 77 years ago
Did you do any work for the employer other than your regular job? If you don't know what this is for, talk to the payroll person or human resources to find out why you were given this form. Be ready to show that person both the W2 and the 1099 that you have been given. They could easily have mistakenly recorded someone else's payment as to you, or they may have this money in the wrong field on the 1099, or there may be a legitimate reason what they have given to you. $300 isn't going to change your tax liability by much but you do need to understand this and file an amended return if it is legitimate.
- troLv 77 years ago
self employment tax will be imposed on sch C 'net' amount of $400 or more, $300 doesn't cut it
- ?Lv 77 years ago
What is the $300 for?
ALL money is to go through the W-2 once you are an employee.
No prizes, no bonuses, no expensses, nothing.
