If you receive a nonemployee compensation on Form 1099-NEC, you will need to enter the information in both Form 1099-NEC and Schedule C sections. If you have entered information under Other Income, you will need to remove it. Only link the 1099-NEC to Schedule C.
To remove Other Income, here are the steps:
1. Sign into your account, select Pick up where you left off
2. Select Tax Tools, click on the drop down arrow
3. Select Tools
4. Under Other helpful links, choose Delete a form
5. Select Delete next to the Other Income or related and Continue with My Return
You would start from the 1099-NEC section under "1099-MISC and Other Common Income". You would then follow prompts to tell the program you are filing a Schedule C. As it creates a Schedule C for you, you will need to go to the Schedule C portion separately to confirm your income amount, add related expenses and complete required information.
In TurboTax online, here are the steps:
- Sign into your account, select Pick up where you left off
- From the upper right menu, select Search and type in 1099nec and Enter
- Select the Jump to 1099nec
- Follow prompts to complete the section
Then
- From the upper right menu, select Search and type in schedule c and Enter
- Select the Jump to schedule c
- Next screen, "Your 2020 work summary" under your self employed business, select Review
- Continue to enter related expenses and other required information
Generally, most taxpayers who receive a Form1099-NEC are considered as self employed by the IRS and required to pay self-employment tax. You will need to file a Schedule C reporting both income and any related expenses.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
