Did you also enter information under Schedule C?
When you received a Form 1099-NEC on a non-employee compensation, you will need to enter the information in both Form 1099-NEC and Schedule C sections. You would start from the 1099-NEC section under "1099-MISC and Other Common Income". You would then follow prompts to tell the program you are filing a Schedule C. As it creates a Schedule C for you, you will need to go to the Schedule C portion separately to confirm your income amount, add related expenses and complete required information.
In TurboTax online, here are the steps:
- Sign into your account, select Pick up where you left off
- From the upper right menu, select Search and type in 1099nec and Enter
- Select the Jump to 1099nec
- Follow prompts to complete the section
Then
- From the upper right menu, select Search and type in schedule c and Enter
- Select the Jump to schedule c
- Next screen, "Your 2020 work summary" under your self employed business, select Review
- Continue to enter related expenses and other required information
You will need to file as self employed and pay self employment tax. The net profit amount will show on line 3 of Schedule 1 and line 8 of Form 1040.
@Wavelet42
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
