1099 has versions. This would be a 1099-NEC or - MISC and is earned income.That is not so. I get 1099's every year from banks and credit unions (and Vanguard). None of this 1099 income is "earned income" or, more exactly, "taxable compensation". The IRS's own description of taxable compensation is "wages, salaries, commissions, tips, bonuses, or net income from self-employment."If they issue a 1099, it is earned income. A 1099 is issued at $600 or more.
Is what the OP describes a "commission"? I'm not sure, but just because a 1099 is issued doesn't provide information on this.
Statistics: Posted by RickBoglehead — Thu Sep 19, 2024 10:53 pm