I own 7% of a business established in 2020 but began receiving profits this year. Is there a way to categorize separately from freelance work?

[Critter-3]

Sounds like you are in a partnership or an S-Corp ... if so you should be getting a K-1 form from those companies after they file their own returns.   The K-1 form should be issued to you each and every year you are part of this business ... did you not get one for the 2020 tax year ???    If not then contact the person in charge of filing the return and see what is happening.