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Mark from Free Tax.com explains that if you receive a 1099 miscellaneous that is not self-employment income, you should have the payer reissue it with the amount in box three as other income. The IRS expects box seven income to be reported on Schedule C, subject to self-employment taxes. Occasional income not intended for profit, like prizes or legal damages, is not considered self-employment income. In these cases, use line eight of Schedule one for reporting as other income, only subject to regular tax.
