How to Report Directors Fees on Your Federal Tax Return
- 1). Include all fees for your services as a director in your income. Specifically, this is referred to as nonemployee compensation. You need to report the income only if the fees total more than $600 for the year.
- 2). Look for the fee amount on the Form 1099-MISC, which should be sent to you by the organization that paid your fees. It may be necessary to report your fees as self-employment income if you are filing as self-employed.
- 3). Download a Form 1040 Schedule C or Schedule C-EZ. Fill out and submit this form in order to claim corporate director fees as self-employment income.
