Other Income

Just need clarification on terms and forms to use...

Using 1040, I have one entry on line 21 reflecting other income. The amount reflects income from a 1099-MISC where no other figures or taxes are reflected.

Am I correct to enter this here, or should it be included as part of the line 7 "wages, tips, salaries"?

If Line 21 is appropriate, do I also have to use Schedule SE?

Thanks for taking the questions. Your thoughts are appreciated!

I assume the income on the 1099-MISC was from some service you provided or work you did. If that is the case, you should not enter the amount on line one or 21. You should fill out a Schedule C or Schedule C EZ.

Here is a chart, telling you where to enter the amount, which depends on which box on Form 1099 the amount is in:

Rents (box 1) -- See the instructions for Schedule E

Royalties (box 2) -- Schedule E, line 4 (timber, coal, iron ore royalties, see Pub. 544)

Other income (box 3) -- Form 1040, line 21* (If the item relates to an activity for which you are required to file Schedule C, C-EZ, E, or F or Form 4835, report the taxable or deductible amount allocable to the activity on that schedule or form instead.)

Other (boxes 5, 6, 8, 9, 10, 13, and 14) See the instructions on Form 1099-MISC

Nonemployee compensation (box 7) Schedule C, C-EZ, or F.

Thanks much for your response!