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Level 2
posted Feb 16, 2024 5:55:49 AM

1099-NEC Schedule C

I received a 1099-NEC from a business I am working for. I am not self-employed. Turbotax is asking me to file a Schedule C, but I don't know how to fill in any of that information since I'm not running my own business. I am working for one. Please advise.

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1 Best answer
Expert Alumni
Feb 16, 2024 6:16:51 AM

You would need to still enter this like it is a business because you need to pay FICA taxes on that income. Employers will issue 1099 NEC rather than a W2 to keep from paying their portion of your FICA tax. Here is how to report.

 

  1. Type Schedule C in the Search box.
  2. Select the Jump to link.
  3. Answer Yes to Did you have any self-employment income or expenses?  Answer yes.
  4. Answer the questions regarding your profile to the best of your ability. When it asks for a business code, just put 999000
  5. After you complete your business profile, you will be brought to a summary page. Here pick Business Income.
  6. Then enter your 1099 NEC information by selecting 1099-NEC income


 

1 Replies
Expert Alumni
Feb 16, 2024 6:16:51 AM

You would need to still enter this like it is a business because you need to pay FICA taxes on that income. Employers will issue 1099 NEC rather than a W2 to keep from paying their portion of your FICA tax. Here is how to report.

 

  1. Type Schedule C in the Search box.
  2. Select the Jump to link.
  3. Answer Yes to Did you have any self-employment income or expenses?  Answer yes.
  4. Answer the questions regarding your profile to the best of your ability. When it asks for a business code, just put 999000
  5. After you complete your business profile, you will be brought to a summary page. Here pick Business Income.
  6. Then enter your 1099 NEC information by selecting 1099-NEC income