No. Yes it matters. You need to enter expenses for the 1099Misc on Schedule C so it will reduce your Net Profit and self employment tax.
What version do you have? The Home & Business program or a lower version? Home & Business has different steps.
Where to enter expenses in the Desktop Home & Business version
https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-business-expenses-in-t...
Go to Federal Taxes Tab
Wages and Income
Choose Jump to Full List -or I'll choose what I work on
Then scroll way down to Business Items
Then click EDIT by the business name and the next screen should be a list of topics,
Business Profile, Income, Inventory/Cost of Goods Sold, Expenses, Assets, and Final Details last.
Under Business Expenses, Click Start or Update by Other common business expenses. You should see the list of expenses and amounts you entered.
Then click the start or update button by the expense you want to add or edit.
