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Get your taxes done using TurboTax
Form 1099-NEC box 3 is currently not used. It is, according the instructions for Form 1099-NEC "reserved for future use". Perhaps you are in the 1099-MISC entry screen. Box 3 of 1099-MISC is for "other income".
Why would you report income reported on Form 1099-NEC Nonemployee Compensation? Your Schedule C for your trading activity should only have the expenses relating to your trading activity. You need to create a separate "business" to report income reported on a 1099-NEC. All of your trader income should be reported on Schedule D & Form 8949, or if you've made a mark-to-market election under section 475(f) on Form 4797.
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March 12, 2025
8:21 AM