1099-NEC

[melissamont]

I received a 1099 NEC from a company because I did work for them.  When I enter the form it wants me to create a schedule C form.  It is not my company.  When I enter the the amount on 1099 NEC my refund changes a little but then after filling out the schedule c, I now owe a lot of money.  I currently have my own LLC and I fill out the schedule K form and so on.  Why is this 1099 NEC trying to say it is my company?  Need some assistance on how to complete this form.

[KrisD15]

Form 1099-NEC is Non-Employee Compensation which is the same as Self-Employment. 

Since you were not an employee of the company you performed work for, that company did not withhold FICA tax (Social Security). 

When that happens, you, as the self-employed taxpayer, pay the FICA as "Self-Employment" tax. 

You do file Schedule C and also can claim expenses you incurred for that income.