adam420
Returning Member

Get your taxes done using TurboTax

Guys after looking at reddit, I learned that the payer who issued the 1099NEC did so in error. Because IRS says:

Payments made with a credit card or payment card and certain other types of payments, including third-party network transactions, must be reported on Form 1099-K by the payment settlement entity under section 6050W and are not subject to reporting on Form 1099-MISC or Form 1099-NEC.

 

Wild that I had to learn this myself and these Turbo Tax experts don't mention anything about this... I don't have time to try to get 1099-NEC payer to try to cancel my 1099-NEC to be 0, so I guess I have to report all the 1099NECs, 1099Ks, and then make a huge miscellaneous expense in schedule C with the description: "1099-NEC received in error, income already reported on 1099-Ks" or maybe "Erroneous 1099-NEC received"