In article <0h7Bl.15450$W06.8261[at]flpi148.ffdc.sbc.com> ,
Alan <sfcnm-mtm[at]yahoo.com> wrote:
- quote -

Similar to book royalties. Author's royalties go on Sch C
while a beneficiary of the author reports royalties on Sch E.

UltraTax allows you to report SE Income on Line 21 and to designate
it as being SE income, and will generate a Sch SE in that case.


So if commissions are taxable to the salesperson, I see no harm in
reporting that income on Line 21 and then generating a Sch SE.


SSA uses Sch SE to update its SE records, and doesn't care if
a ch C was filed or not.
--

ArtKamlet at a o l dot c o m Columbus OH K2PZH

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Brew1 wrote:
- quote -


Insurance agent, retired. Income paid by an insurance company
to a retired self-employed insurance agent based on a percentage
of commissions received before retirement is reported on Schedule
C or C-EZ. Also, renewal commissions and deferred commissions for
sales made before retirement are generally reported on Schedule C
or C-EZ.

However, renewal commissions paid to the survivor of an insurance
agent are not reported on Schedule C or C-EZ.

--
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Residual payments from the renewal of policies written by agents now
retired.

I've had one client who receives these and we've always used Schedule
C. Just looked over a return with $16,000+ from a 1099-MISC, Box 7,
listed on Line 21. Not coming up with anything from my reference
materials; are these type of payments not subject to self-employment
taxes?

My default position is that, without evidence to the contrary, I'm
going to put "nonemployee compensation" of greater than $400 on a
Schedule C. Would love it if someone can refer me to an exception for
this income.

Thanks,

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >