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Sorry that is self employment income. Where does the IRS say to report on Schedule 1 line 8? It goes on line 3. You worked for it, right?
To report your self employment income you will fill out schedule C in your personal 1040 tax return and pay SE self employment Tax. Here's a Schedule C https://www.irs.gov/pub/irs-pdf/f1040sc.pdf
You can enter Self Employment Income into Online Deluxe or Premier but if you have any expenses you will have to upgrade to the Self Employed version or use any of the Desktop CD/Download programs.
How to enter self employment income
Income on a Form 1099-NEC is normally reported on Schedule C. It's payment for services that you performed. The fact that it's a small amount doesn't matter. Schedule 1 line 8i is basically for income from a hobby. If you were a part-time worker, that doesn't sound like a hobby. What did you do to earn the income?
I 1099-NEC is the same form that is issued to a self-employed individual. Self-employed income is reported on a Schedule C. Since the 1099-NEC is for non-employee income. Self-employment tax must be paid on income from a 1099-NEC.
Are there any expenses that you incurred as a part of your job that you could possibly deduct as an expense? Did you have to drive your vehicle for work other than back and forth to work? If so, did you keep track of your mileage or could you recreate your mileage? Mileage can be used as a deduction.
Many times someone like you who is paid with a 1099-NEC has the schedule C but only shows income. You may not owe any taxes if you did not earn more than $12,500 which is the standard deduction, but you will owe Self-Employment tax on whatever amount you earned.
As for needing the TurboTax Business, because you have the Form 1099-NEC you have to use the TurboTax business or self-employment to prepare your taxes.
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