If you received a 1099-MISC with income listed in Box 7 (non employee compensation), the payer considered you either self employed or an independent contractor. You have to report your self employed income and expenses on schedule C. In order for TurboTax to accommodate this type of form and income, you will need TurboTax Self Employment.
See the answer to the following FAQ on how to report your self-employed income and expenses:
To enter a Form 1099-NEC reporting non-employee compensation, you first need to create a Schedule C for your business and then enter the Form 1099-NEC within that same section of your return.
Use these steps to go to the Schedule C section of your return and get started.
- On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)
- This opens a box where you can type in “schedule c” and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
- The search results will give you an option to “Jump to schedule c”
- Click on the blue “Jump to schedule c” link
Once you have started the Schedule C, continue through that section to Add Income and enter the Form 1099-NEC plus any other income you received for that self-employed business.
Don't forget you can also claim expenses related to your business.
For more details and information, take a look at the following TurboTax article: What is Form 1099-NEC?
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