I did not get a 1099

MJBL · #1 (**permalink**) 02-13-2008, 01:52 PM

I made $455.00 as an independent contractor from a business. I did not get a 1099 since it was under $600. Do I have to claim it as income still?

TaxGuru · #2 (**permalink**) 02-14-2008, 11:59 AM

Yes, the IRS requires that you report the 1099-Misc even if it was less than $600 and you did not get a 1099-Misc.

The income earned from whatever sources is reportable income and failure to report this income would subject you to the various penalties and interest that are applicable to omission of income.

So, I would recommend that you report this income as miscellaneous income subject to S/E tax.