1099-NEC $13,000 Profit, Unmarried & 1 Child

If you are an independent contractor, have freelance income or a side hustle gig, you will probably receive a Form 1099-NEC.

The amount on Form 1099-NEC for sole-proprietors is reported on Form 1040 Schedule C as gross receipts.

For example, you received a Form 1099-NEC, and after all of the business expenses are subtracted from the 1099-NEC amount, you are left with a profit of $13,000. If you are filing as head of household with one child and have no other income or deductions, your federal refund would be approximately $3,100, and the State of California refund would be approximately $1,400.

Depending on your state, the state refund will differ.