SharonD007
Expert Alumni

Get your taxes done using TurboTax

Your income from Form 1099-NEC is correctly reported on Schedule C.  The IRS considers this contract income as self-employment income. The good thing is that you'll be able to deduct reasonable and customary business expenses from that income.

 

You can amend your taxes if you want to add expenses that you incurred while working as a contractor. Refer to the TurboTax article What is a 1099-NEC?What is the self-employment tax? for more information.

 

For additional information, refer to the TurboTax Help articles How to File Taxes with IRS Form 1099-NECReporting Self-Employment Business Income and Deductions, and What self-employed expenses can I deduct?

 

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