MISC Income

[JH0412]

Currently, I work for multiple employers, one of which provides a W-2 and the other a 1099-NEC. However, in addition to that last year, I had done some small extra consulting work for a firm but was not provided a tax form from them because the invoiced amount was less than $600. In filing my taxes with TurboTax online, where do I report miscellaneous income from consulting work that was less than $600 and for which I was not given a tax form for? Do I combine it with my 1099-NEC? Create an additional 1099-MISC category? From the prompts given by the software, it is unclear how to proceed with this, so I would appreciate a response, thank you.

[Terri Lynn]

Hello and good afternoon, JH0412!

You asked, where do I report miscellaneous income from consulting work that was less than $600 and for which I was not given a tax form for? Do I combine it with my 1099-NEC? Create an additional 1099-MISC category?

 Since you earned less than $600 and did not receive a tax form, you are still required to report the income on your tax return and can report the income on a Schedule C.  If the income you earned is for the same kind of work  or service as the work you received te 1099 NEC for, than you can report it as one business activity on one Schedule C and will report it in the income section of the form.    If the businesses operate doing different lines of work, you will need to file a  separate Schedule C for each. 

Please check out this link for additional information:

How to Report Self Employment Income for Multiple Side Gigs 

Hopefully that helps, but please feel free to reach backout with any additional questions or concerns you might have!

Have an amazing rest of your day!

Terri Lynn, EA

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[SwapnaM]

Is the consulting work for the same business for which you also received a 1099-NEC? If yes, then you can enter it under "business income not reported on other forms" or "other self-employed income, includes cash and checks" for the same business. Do not add it to the1099-NEC amount.

@JH0412 for the question!!

[JH0412]

Thank you for the response and clarification. The income I earned was not for the same company as the 1099-NEC nor was it a similar line or type of work, so based on your response, I would have to file a separate Schedule C. I understand how to do this on paper, but it is unclear how this looks like or how to do this using the TurboTax online software. If I file a separate Schedule C, would using the category "Other self-employed income including cash, checks, etc" be okay as the other expert mentioned, and if so, does this result in looking like one additional line in the subsection of "Wages & Income - Self-employment income and expenses" box (such that the box has two lines in it - one for the 1099-NEC and one for the other work - but the total amount for the entire box being the combined income of the 1099-NEC and consulting work)? Thank you. 

[SwapnaM]

@JH0412 If it is not for a similar line of work, then you need to report it on another Sch C. In TurboTax online, under wages & income> Self employment income & expenses, you would "add another business" & enter your income under "other common income-cash & checks".