If you don't qualify to get a 1099 from Upwork, you just list your earning as "miscellaneous income". I strongly advise using TurboTax for small businesses. It's worth the $$ and most helpful with business deductions.
That seminar is useless! It does not clarify what you get if you don't qualify for a 1099k from Upwork. If we completed a W9 then I would expect to get a 1099s (since I don't qualify for a 1099k) from Upwork, so that I can delclare that on my tax returns but the seminar does not clarify this.
Also, if the only thing that we as freelancers can get from Upwork is a 1099k once we make $20k AND reach 200 transactions; then, how do we report our earnings to the IRS for now?? Does Upwork provide us with a 1099s? and what earings do we report if we have to report them WITHOUT ANY 1099? Do we report the amount that the client is paying us per hour or do we report the amount that we acutally get paid after Upwork reduces its fees? NONE OF THESE QUESTIONS ARE ANSWERS BY THAT USELESS "SEMINAR"... Can anyone please answer these questions for me PLEASE!???
Jennifer R wrote:
I have the same question. It appears we have to piecemeal together our earnings from the reports in our profile, but that doesn't seem right.
You are a self-employed freelancer - keeping track of earnings is your responsibility. All the information you need to file your taxes is right there under your reports tab. Who else would you expect to take care of that stuff?