How to Report 1099-Misc Income

Taxpayers must report income from Form 1099-MISC.

Form 1099-MISC lists miscellaneous income. An entity paying this income to an individual will need to send Form 1099-MISC to the taxpayer. The taxpayer must then report this income on his or her taxes. It is crucial that a taxpayer report this income because the Internal Revenue Service also receives a copy of Form 1099-MISC. Failure to report Form 1099-MISC income can lead to an audit and underreporting of income.

Things You'll Need

• Form 1099-MISC
• Form 1040

Instructions

1. Report boxes 1 and 2 on Form 1040 Schedule E. Box 1 should go on Form 1040 Schedule C if the landlord provides numerous services to the tenant.

2. Report box 3 on the "Other income" line of Form 1040.

3. Report box 4 as tax withheld on the income tax return.

4. Report box 5 and box 6 on Form 1040 Schedule C or C-EZ.

5. Report box 7 on Form 1040 Schedule C, C-EZ or F. If this is self-employment income, also file Form 1040 Schedule SE.

6. Report box 8 as "Other income" on Form 1040.

7. Report box 9 on Form 1040 Schedule C or C-EZ.

8. Report box 10 on line 8 on Form 1040 Schedule F.

9. Report box 15b on Form 1040.

References

• IRS: Form 1099-MISC