How to Report Self-employment Income Without a 1099

TL;DR

If you didn't receive a 1099, don't sweat you can just add up the payments you received and report it yourself. You're expected to do that anyways. You will not be fined for not having a 1099 sent to you.

If you earned less than $600 from a client or customer during the tax year, the person paying you is not required to provide a 1099, but you're still required to report that income and pay taxes on it.

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If you’re wondering how to report self-employment income without a 1099 form, you’re not alone! Many self-employed individuals don't receive 1099 forms from their clients, but that doesn't mean you don't have to report your income.

‍Before you get Form FOMO, let’s take a quick look at what an 1099 form is. An 1099 form is used by businesses to report payments made to independent contractors or other self-employed individuals. There are several different types of 1099, but the most common for self-employed income are the 1099-MSC and 1099-NEC. Not all clients are required to issue a 1099. If you earned less than $600 from a client during the tax year, they are not required to provide you with a 1099. Sometimes even when they are required to, companies and individuals will not send a 1099. That's okay. Just make sure you keep track of your earnings yourself. Because it's still your responsibility to know and report how much money you've earned either way. If you're a WorkMade user, we'll automatically keep track of how much income comes in for you. Plus you can auto-save for taxes.

It is important to keep accurate records of all income and expenses related to your self-employment. This will help ensure that you report all income earned and take advantage of all eligible deductions. If you use WorkMade our app will automatically do that for you.

The company or individual who hired you is responsible for the 1099 and they may be fined. But as long as you know how much you were paid, there's no problem for you. You may not always receive a 1099 form from your clients or customers. However, you are still required to report all income earned on your tax return.

Consider estimated taxes: If you are self-employed and expect to owe more than $1,000 in taxes, you may need to make estimated tax payments throughout the year. This will help you avoid penalties and interest on underpaid taxes. And it will make it much easier to report your income in April with or without 1099. With WorkMade you can automatically save for these taxes and we'll pay them for you.

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Each individual and business tax situation is different and unique, so WorkMade does not provide specific tax advice, only supplying general information based on information published by various taxing authorities, which may change over time.