If you have documentation that a portion of the income on Form 1099-NEC should not be taxable, you can enter an adjustment that will appear on Schedule 1 Line 8. Be prepared to provide this documentation to the IRS if you hear from them.
Follow these instructions to enter the adjustment:
- Go to the Income and Expenses section of TurboTax
- Choose Less Common Income
- Choose Miscellaneous Income, 1099-A, 1099-C
- Choose Other reportable Income
- Enter a description and the amount (as a negative number) of your excluded income
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