I'm a sole proprietor. I've received 1099-NEC forms - but, Turbo tax has only input for a 1099-MISC forms. They seem different. Example: box 1 of the 1099-MISC for is not the same as box 1 of the 1099-NEC form.
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Both programs (online and desktop) work the same. To delete a Form 1099-MISC, use the SEARCH function in the upper right corner and search for 1099-misc and use the Jump to 1099-misc link. You will see a list and you can delete from there. Not all 1099-MISC are business related so they all go to Common Income and then if they are linked to a business, TurboTax will transfer that income to a business schedule. @david_a_straight
Anyone?
@david_a_straight wrote:
Anyone?
See this TurboTax support FAQ for entering self-employment income - https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/01/...
What I don't get is why isn't there a place for the 1099-NEC in the business area? The Business area only has the 1099-MISC. Then, I noticed in the Personal Income area (after I finished up Business) you can enter a 1099-NEC. But, I already entered my business income into the 1099-MISC (even though I actually have a 1099-NEC). If I enter the 1099-NEC then I'll double my income (I would think anyway) - so then I'd need to delete the 1099-MISC form in the Business area. Not sure if that will change my deductions. Something seems amiss.
What should I do?
Delete the 1099-MISC by following these steps:
In TurboTax online,
Then 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:
Then
@david_a_straight
I never put my taxes online. I've got a program (TurboTax) downloaded on my Mac. In that program I don't see a way of deleting the 1099-MISC form. And, it is still perplexing that the only place for the 1099-MISC is NOT in the business area. Weird.
Both programs (online and desktop) work the same. To delete a Form 1099-MISC, use the SEARCH function in the upper right corner and search for 1099-misc and use the Jump to 1099-misc link. You will see a list and you can delete from there. Not all 1099-MISC are business related so they all go to Common Income and then if they are linked to a business, TurboTax will transfer that income to a business schedule. @david_a_straight
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