4
QuizMultiple Choice

Employment Considerations — Test

Question 4 • Advanced Financial Algebra

Cora earned $⁢10,000 from various clients as a freelancer. Which form should she receive to report this income?

Answer
A
1040
B
1099
C
W-2
D
Schedule B

Explanation

Freelancers are generally treated as independent contractors, not employees. Clients may report payments for her services on Form 1099 (typically Form 1099-NEC), so the correct choice is 1099. A W-2 is for employee wages, while Form 1040 and Schedule B are used for other parts of filing a tax return.

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