HelenC12
Expert Alumni

Get your taxes done using TurboTax

Generally, when you make $600 or more in self-employment income, you'll get a form 1099-MISC or Form 1099-NEC.

 

To enter your self-employed form 1099-nec:

  1. Type Form 1099-NEC in the search bar and select the Jump to form 1099-nec.
  2. Continue with the onscreen interview until complete. 

If you don't get a tax form for your self-employed income. Follow these steps to enter your income

 

You'll be able to deduct business expenses related to the self-employment income.

 

A 1099-NEC having an amount appear in Box 1 and 1099-MISC with an amount in Boxes 1, 5, 9, or 10 is a good indicator that it's self-employment.

Key Points on 1099-NEC or 1099-MISC and Other Self-Employment Income

  • When you’re paid this way, there’s no withholding taken out of your income, which means you’ll pay both self-employment tax as well as income tax.

A benefit of being self-employed is that it enables you to have lots of write-offs as well, so make sure to enter all your expenses. This helps you reduce the taxes you might owe or increase your refund. We’ll help you get every possible tax break you deserve 

 

 

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