@lj1130
That's helpful. Thanks for the info update.
The IRS default position is that IRS Form 1099-NEC box 1 income is self-employment income and should be reported on IRS 1040 Schedule C Profit and Loss From Business.
For 2020, the IRS revived Form 1099-NEC to report this specific income rather than use IRS Form 1099-MISC box 7.
If the income is reported on Schedule C, there may be some deductible expenses to reduce the tax burden. See this TurboTax Help.
Hope this helps.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
