IRS self-employment tax forms are used to report and calculate taxes owed by self-employed individuals. Many self-employment forms are used to report income, calculate self-employment tax, or report deductions and expenses.
Self Employment Forms: By Type
Form 1040-ES – estimates tax payments for individuals to make payments on a quarterly basis
Form 1099-K – used to report transactions made by card or a third-party
Form 1099-MISC – for reporting miscellaneous income for rent, royalties, awards, or independent contractor fees
Form 1099-NEC – specifically for payments made to independent contractors or self-employed individuals (new as of 2020)
Form 8829 – for calculating and reporting the deduction for the business use of a home
Form 4562 – for reporting depreciation or amortizations expenses/losses mostly for business assets like computers or other equipment
Form W9 – informational form used to provide a taxpayer’s TIN so that a client or business can accurately report payments to the IRS
Schedule C – for reporting net income, losses, and business-related deductions.
Schedule SE – used to calculate and report self-employment tax, including social security and Medicare taxes.
Reporting Self-Employment Income
Deadlines
Deductions and Expenses
Estimating Taxes
Audit Risks