Question I received a Form 1099-NEC with an amount in box 1 for nonemployee compensation. What forms and schedules should I use to report income earned as an independent contractor? Answer Independent contractors generally report their income on Schedule C (Form 1040), Profit or Loss from Business (Sole Proprietorship). Also file Schedule SE (Form 1040), Self-Employment Tax if your net earnings from self-employment are $400 or more. This form allows you to figure Social Security and Medicare tax due on your self-employment income. You may need to make estimated tax payments. Refer to Form 1040-ES, Estimated Tax for Individuals for more details on who must pay estimated tax. If you need to make estimated tax payments and don't pay them timely, you may also need to file Form 2210, Underpayment of Estimated Tax by Individuals, Estates & Trusts. Additional Information About Publication 334, Tax Guide for Small Business (For Individuals Who Use Schedule C) Instructions for Schedule SE (Form 1040), Self-Employment Tax Instructions for Schedule C (Form 1040), Profit or Loss From Business (Sole Proprietorship) Instructions for Form 2210, Underpayment of Estimated Tax by Individuals, Estates, and Trusts Small business and self-employed tax center Am I required to make estimated tax payments? Do I have income subject to self-employment tax? Category Interest, dividends, other types of income Sub-Category 1099-MISC, independent contractors, and self-employed
