I can't submit my return because a form hasn't been finalized yet. I have a 1099-NEC. What does this mean and when will I be able to efile it?

 

Get your taxes done using TurboTax

Same here and it shows that today is the day that we can get this finished and finalized, but still nothing.

MinhT1
Expert Alumni

Get your taxes done using TurboTax

You are self-employed as you have a form 1099-NEC. Your self-employed income is qualified business income and you are eligible for the 20% Qualified business income deduction. This deduction is calculated on form 8995 which will be ready on or around 01/2/2021. Please be patient as it could be late by a day or two.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"