1099-NEC

[jtschierschky]

In 2019 I received a 1099-MISC for my business income.  In 2020 I received a 1099-NEC.  Where do I show this as business income now?

[ColeenD3]

In the same place, Schedule C. The income is isolated onto one single reporting form, instead of being lumped in with other different types of payments like it was on 1099-MISC. The very name of it, NonEmployee Compensation, tells you the type of income.

To set up your business:

1. Open or continue your return.
2. Search for schedule c and click the Jump to link in the search results.
3. Answer Yes to Did you have any self-employment income or expenses?
   • If you've already entered self-employment work and need to enter more, select Add another line of work.
4. Follow the onscreen instructions.

[Critter-3]