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Old 03-13-2014, 12:51 AM
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1099-MISC Nonemployee Compensation

I work for a company that has a contract with Genentech. I take the Genentech bus to get to work. Instead of Genentech billing me for the bus fare, the company issued a 1099-Misc Box 7 for $543.00. Should I treat this as Other Income Line 21 or is this considered Schedule C? I don't have a business and I get a W-2 for the company I work for.



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Old 03-13-2014, 02:40 AM
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Originally Posted by baiger View Post


#1;I work for a company that has a contract with Genentech. I take the Genentech bus to get to work. Instead of Genentech billing me for the bus fare, the company issued a 1099-Misc Box 7 for $543.00. Should I treat this as Other Income Line 21 or is this considered Schedule C?


32; I don't have a business and I get a W-2 for the company I work for.
#1;as you have no other deductible expenses against the 1099 income, I guess you need to report it on 1040 line21 however, you need to pay seca tax on Sch SE aslongas the amount reported on Sch SE line 2, 3 is $400 or exceeds $400. You usually issue 1099-MISCs if you have or manage a trade or business and have paid $600 or more to an individual or partnership (or certain corporations).i guess you can contact Genentech for solution ‘ you may correct the 1099 and bill you or etc.they’d send a copy of 1099/1096 to the irs/your state.


#2;as mentioned above



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