Re: I am self employed but I received a 1099 NEC - can I still claim Business Business Income for my 2020 profit.

I am self employed but I received a 1099 NEC - can I still claim my profit as a Qualified Business Income (QBI)

posted

the NEC is for those who are self-employed. you can either enter the form and all info or enter on schedule C as if you didn't receive the form. the IRS does not get the detail of the NEC entries only the total revenue reported on schedule C.

I missed typed. I wanted to know if I can still claim my profit as a Qualified Business Income (QBI) if I received a 1099 NEC as part of the overall income for my business.