Full question:
I am being paid for taking care of my brother-in-law who is disabled. I want to build up my SS Income. How do I list it on my Federal return which I am filing online and I will they automatically hold out the SSI payments for me, even though I don't have a 1099 form but have copies of the checks where I was paid by my brother-in-law, whom I take care of.
- Category: Taxes
- Date:
- State: Arkansas
Answer:
If the employer isn't deducting the Social Security tax for you, you will want to file the proper form with the IRS. Independent contractors report their income on Form 1040, Schedule C (PDF), Profit or Loss from Business (Sole Proprietorship), or you may qualify to use Form 1040, Schedule C-EZ (PDF), Net Profit from Business (Sole Proprietorship). You should also be aware of Form 1040, Schedule SE (PDF), Self-Employment Tax, which must be filed if net earnings from self-employment are $400 or more. This form is used to figure your social security and Medicare tax which is based on your net self-employment income. You may also need to file Form 2210 (PDF), Underpayment of Estimated Tax by Individuals, Estates & Trusts, if you do not make estimated tax payments.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
