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I was given a 1099-NEC and the questions turbotax is asking me are like i own the business, but i just get paid by the business. how do i fix this?

 
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2 Replies
DaveF1006
Expert Alumni

I was given a 1099-NEC and the questions turbotax is asking me are like i own the business, but i just get paid by the business. how do i fix this?

It depends. You still need to report it like a business because the issuer of the 1099-NEC did not deduct your FICA taxes during the year. You are going to need to pay FICA taxes in this return. These are reported as self-employment taxes but are the same as FICA taxes. You were considered a self-employed contractor for the work that you did even though you thought you were an employee.

 

When you report, you must indicate that this was your main job when Turbo Tax asks you this.

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I was given a 1099-NEC and the questions turbotax is asking me are like i own the business, but i just get paid by the business. how do i fix this?

That is self employment income.

Yes you are the owner of your own self employment business.  You are in business for yourself.  Use your own info.  The people or company that pays you is your customer or client.  You need to fill out schedule C for self employment business income.  You are considered to have your own business for it.  YOU are the business.

 

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.

 

How to enter income from Self Employment

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

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