In 2020, as my work hours were reduced by my primary employer due to the pandemic, I supplemented my income by delivering groceries. Shipt sent me a 1099 NEC since I was considered a contractor. After entering the amount of roughly $5K, my tax refund was reduced by $1,700. Is TurboTax calculating this correctly? From my understanding 1099 NEC income should be taxed at 15.3% but this is more like 34%.
Is anyone experiencing something similar?
Thanks.
