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If you received a Form 1099-MISC Miscellaneous Income instead of a Form W-2 Wage and Tax Statement, the income you received is considered nonemployee compensation or self-employment income.

Self-employed status means that the company or individual you worked for didn’t withhold income tax or Social Security and Medicare tax. As a result, you’ll need to complete Schedule C (Form 1040) Profit or Loss From Business (or Schedule F (Form 1040) Profit or Loss From Farming) and Schedule SE (Form 1040) Self-Employment Tax.

For help entering 1099-MISC information in TaxAct, see Form 1099-MISC - Payer Made Direct Sales of $5,000 or More.

Determining self-employed status:

You don’t have to be a business owner to be treated as a self-employed worker. Simply performing services as a nonemployee can be enough to create this tax treatment.

See Employee or Independent Contractor for more information.

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