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Additional Details
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tallveganblonde | Two accountants have now told me that I'm "self-employed." I'm looking for more opinions from PROFESSIONALS on |
Let me break down what I did for money in 2007...
Drug Studies: I donated my body to science to test out new drugs and received stipends totalling more than $18,000 for the year. I received 1099's from 3 difference clinics for my participation in clinical trials. One of the companies put the income in box 3 (other income) and the other two companies put the income in box 7 (nonemployee compensation). NOTE: When I received my stipends, NO tax was taken out.
Promotional Modeling: I worked miscellaneous gigs as a brand ambassador, all jobs I found on craigslist. From all of these gigs, I received two (2) W-2's and a bunch of 1099's. Some of them took tax out, some didn't.
My question is... am I self-employed? |
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Arthur R
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Why do you ask? Modeling income reported on 1099s is clearly self-employment income, but the drug studies seem more like they should be in box 3 (other income, reported on line 21 of the 1040), rather than nonemployee compensation in box 7 (reported on Schedule C). Perhaps you can get the company to reissue those 1099s. After all, they're not asking you to DO anything, are they? Just to take their drugs and come in for tests? Doesn't sound like self-employment income to me.
So, you have self-employment income and employment income from modeling, and other income and possibly self-employment income from the drug studies.
But are you self-employed? Good question. |
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Judy1
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By definition, yes you are. Not for the jobs where you got W-2's, but for the rest of the income.
I don't think from your description that you donated your body to science - that's done for after you die. |
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bostonianinmo
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Yup, you fit the definition of self-employed, at least in part. I'd argue the treatment of the medical studies as box 7 items but box 3 is unquestionable; see if they will re-issue the 1099s as box 3, Other Income. The self-employment falls in the modeling gigs without any question at all.
Receiving a Form 1099-MISC does NOT automatically mean you're self-employed. Income reported in box 3 goes on the Other Income line (Form 1040, line 21) and you don't pay self-employment taxes on those amounts. Payments reported in box 7 are generally treated as self-employment income but that can be argued in some cases and the medical studies you participated in are an example of that, especially if it's a one-off item of a non-repetitious nature outside of your usual career. |
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Randy B
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Sure you are. Do you work for a company, on their payroll? No. Are you essentially both "Betty's Modeling Service" and "My Body Testing"? Sure you are. You are self employed for tax purposes. In fact, if you play it the right way and had actually created a company to act as an umbrella for these ventures you could have even claimed some of your rent, phone bills and/or utilities on your taxes as business expenses.
Talk to a financial planner and get yourself set up right for next years taxes. And I would argue that the accountants you have talked with ARE professionals. More so then strangers on an internet site. Trust your professionals and do it right in the future. |
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v b
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If you are making $18K a year participating in medical studies, it's no longer a hobby. It's a trade or business and goes on schedule C. |
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K
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Yes you are. |
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P1
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1099's you are considered an independant contractor; ie self employed. |
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Greg H
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Yes. The income reported on 1099's is self-employment income. Report it on Schedule C of your Form 1040. You will be able to deduct business expenses from this income. |
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MO
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Anytime you receive a 1099 and it is considered self employment. Write to your congressman to see if you can make changes. |
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