How do I report 1099-NEC on my business taxes?

[bilyana11]

Hello,

I have received 1099-NEC on my business name and I am not sure how to report it on Turbotax Business 2023.

If I enter it as an income will it double the Business Income since is already entered as an transaction on Quickbooks?

[VolvoGirl]

Yes it will double it.  Only enter the income one way from QuickBooks or 1099NEC.  

[bilyana11]

Thank you for your quick answer. What do I do with this form 1099 then? Just keep it for my records?

[ThomasM125 · Accepted solution]

Yes, keep the form in your records.