Self-Employment Tax Forms

self employment tax forms

The information in this article is up to date through tax year 2019 (taxes filed in 2020).

There are several forms that can be used to report self-employed income, and they can vary, depending on your occupation. Below is a list of common IRS forms and how they are used for tax purposes.

  1. Schedule C: This form is used to report how much money you made or lost through your small business or self-employment. Everyone with self-employed income should complete a Schedule C.  
  2. Schedule SE: If you are required to pay the self-employment tax, this form is used to calculate how much you owe. Most people who file a Schedule C will also need to complete this form. 
  3. Schedule K1: If you invest in things like rental property, you receive this form. It shows the breakdown of the income you receive from these investments. 
  4. Form 1099: This is an informational form showing that someone other than an employer paid you. There are several types of Form 1099. 
  5. 1099-DIV: This form reports dividends and is commonly used by investors. 
  6. 1099-G: This shows government payments. It is most often used for unemployment compensation and State and Local Income tax refunds. 
  7. 1099-H: This is a health insurance payments form. It is most often used for advance payments of qualified health insurance. 
  8. 1099-INT: Interest. This form is most often used by brokerage firms, banks, and mutual funds. 
  9. 1099-K: Merchant card and third-party network payments. You may receive a 1099-K if you take payments through PayPal, Venmo, Square, etc.  
  10. 1099-Q: Qualified education programs. Most often used for 529 Coverdell Education Savings Account. 
  11. 1099-R: IRAs, retirement plans, and pensions. Most often used by retirees. 
  12. 1099-S: Real estate income. Most often used by realtors. 
  13. 1099-MISCIncome earned without a W-2, royalties and rental income. Most often used by independent contractors, freelancers, and professional services. 
  14. 1099-A: Acquisition of secured property.  
  15. 1099-B: Proceeds from broker exchange transactions.  
  16. 1099-C: Cancellation of debt.

No matter which form you file, use TaxSlayer’s Self-Employed Edition for an experience that is specially tailored to your unique filing situation.

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