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Is a 1099 form the same as a Schedule C?

No.

1099 forms used by payers to report payments made to a taxpayer (or recipient).  The most popular 1099 form is the 1099-MISC which is used to report payments of $600 or more that were paid by the payer to a recipient.

Schedule C, which is sent with Form 1040, is used to report self-employment income and calculate taxable profit.

Lets consider an example.  I hire someone to paint my house.  I, the homeowner, am the payer.  The painter is the recipient.  Lets say the painter charges $5,000 to paint my house and the paint cost $500.  The homeowner or payer sends  the painter Copy B of Form 1099-MISC at the end of the year reporting the $5,000 payment.  The homeowner also sends Copy A of Form 1099-MISC to the IRS.  The painter fills out Schedule C showing the $5,000 they were paid as business income and then deducts the $500 in paint cost as a business expense.  The difference of $4,500 is painter income.

I hope this helps.  E-mail any 1099 question you might have.

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