The income that was earned as a freelancer and reported to you on a 1099 form is considered income from self employment. You would report this income on Schedule C of your personal tax return which is used by sole proprietors, which is basically what you will be classified as.
You must also file Schedule SE with your return to compute the amount of SS and Medicare taxes that you will owe on this income.
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Thank you leslie
Hello again leslie,
Turbo Tax will handle this form for you automatically. Part of the TT questionnaire on income will be a question asking if you had income from a business or self employment and you will answer yes to that question. TT will then fill out the Schedule C and Schedule SE for you automatically.
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