Expert: Arthur Naman - 3/20/2009

Question
I saw you asnwered a similar girls message who had the similar issue of a place of business paying us (student stipends) on a 1099MISC. I understand that It is taxable. I have two different places one 6000.00 and one 2000.00. last year. I graduated and started working last sept 08 which adds a little more income. You mentioned to her she was above the exempt amount of not paying back taxes or something it wasn't clear to me. So, my question is if i file do i have to do fica and medicare and social security or not? do i say its other income? full time, part time, buisness or self employed etc? i was not self employed simply a student. i am using taxcut premium. if i select other income then i have to say wages or other income...I am not sure.
ultimately what forms do i need to fill out extra other than this for taxes?

Answer
If someone has not previously answered your question ...

On the form 1040, Individual Income Tax Returned, filled annually on April 15, yesterday, this type of income should be reported on Schedule C (or Schedule C-EZ) which is attached to your return. In addition, self-employment taxes like FICA and Medicare are calculated and reported on Schedule SE.

Both forms should be attached to your return.