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Level 1
March 9, 2021
Question

1099-NEC

  • March 9, 2021
  • 2 replies
  • 8 views

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?

    2 replies

    ColeenD3
    Level 15
    March 9, 2021

    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
    Level 15
    March 10, 2021