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Understanding Your Saucey 1099 Copy

Last Updated:
January 25, 2019

You should receive your form 1099-MISC from Saucey Tuesday, January 31st, 2019. You may receive it before then. Payable is the service helping deliver these tax forms to Saucey Couriers this year. We created this quick guide to help you better understand the 1099 and what it means for your taxes.

See: What is a 1099 Form?

Why did I get a 1099?

A 1099 form is used to report contractor earnings to the IRS. You only get a 1099 form after earning more than $600 with a company. If you’ve received a form from Zoomer, that means you’ve earned over $600 from them.

Where are my earnings reported on the form?

The most relevant box for you and your taxes is Box 7: Nonemployee compensation. On your 1099, this is what it will look like:


What do I do with the information on my Saucey 1099?

First, you will input the amount you’ve earned (as reported in Box 7 on your Saucey 1099) on the Schedule C.  You use the Schedule C to determine your profit or loss. It's also where you claim any tax deductions (like the Standard Mileage Rate, health insurance premiums, business supplies, etc).

After that, you’ll take the amount in personal business profit determined by your Schedule C and plug it into a Schedule SE. The Schedule SE helps you calculate the percentage you will owe in self-employment tax. That percentage, in turn, you add on your 1040 form (the form most people fill out to report income).

Do I send my 1099 to the IRS?

No, the 1099 is for your records only. You’ll send them the Schedule C, Schedule SE and 1040.

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