I received a 1099-MISC for income from wells in which I am an unleased mineral owner. The operator listed the income in Box 7 as Nonemployee Compensation. The tax program I'm using is treating it as business income and therefore I'm having to pay self-employment tax on it. Is this correct? I don't feel this is earned income that I should have to pay Social Security on; I work for a school district and pay into the teacher's retirement fund, not Social Security. Any thoughts would be appreciated.
Kathy, I'll add my two cents regarding casingpoints less than civil tone. Please don't let one somewhat discourteous replay lead you to abandon us. We need you. :-)