- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I entered income from a 1099-nec. When I clicked no expenses a schedule C was not created and self-employment taxes were not added. Is ithis correct?
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I entered income from a 1099-nec. When I clicked no expenses a schedule C was not created and self-employment taxes were not added. Is ithis correct?
No, it's not correct. It's an unfortunate quirk of the TurboTax interview. Here are two ways you can handle it.
1. When you enter the 1099-NEC, say that you have expenses, even if you don't. Then it will create Schedule C.
2. Go to the business section first and enter the basic information about your business. That will create Schedule C. Then enter the 1099-NEC income in the business section.
If you have further questions, please tell us whether you are using TurboTax Online or the CD/Download TurboTax software, and what edition (Basic, Deluxe, etc.).
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I entered income from a 1099-nec. When I clicked no expenses a schedule C was not created and self-employment taxes were not added. Is ithis correct?
Thanks, that's what I thought, but they could have changed it. I would call it a bug, not a quirk. I'm using the deluxe edition purchased at Costco.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I entered income from a 1099-nec. When I clicked no expenses a schedule C was not created and self-employment taxes were not added. Is ithis correct?
Has this been corrected? I am having the same result but wondering if i do need the schedule C?
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I entered income from a 1099-nec. When I clicked no expenses a schedule C was not created and self-employment taxes were not added. Is ithis correct?
If this is a nonemployee compensation, you would need to file a Schedule C though the program does not lead you to.
You will need to enter the information in both Form 1099-NEC and Schedule C sections. 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
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Still have questions?
Or browse the Forums