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Get your taxes done using TurboTax
You just need to correctly report your income from self-employment. If the 1099-NEC is less than the amount of income you report, the IRS will not flag your return or investigate. It is a natural assumption that you made additional income from another source that wasn't required to report it on a form.
You can see How do I report income from self-employment? and What self-employed expenses can I deduct? to be sure you are reporting the best situation for your business.
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‎February 28, 2023
10:49 AM