popsjohn
New Member

1099-NEC Non employee compensation

I am a retired employee of a Bank that purchased a split dollar life insurance policy on me when I was employed. I have been receiving 1099-misc forms in previous years and a 1099-NEC last year and this year for a calculated amount that is supposed to be the economic benefit to me. This year Turbo Tax is wanting me to complete a schedule C. This is new this year. I do not have a business, this is not business income but apparently it is taxable compensation because I am a former employee. What should I do?