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Get your taxes done using TurboTax
Have you filed yet? Did you mean by 1099-MISC instead of 1099-SEC?
If you have not filed, you can return to the program to remove 1099-MISC and add 1099-NEC.
To remove the form, here are the steps:
In TurboTax online,
1. Sign into your account, select Pick up where you left off
2. From the left menu, select Tax Tools, click on the drop down arrow
3. Select Tools
4. Under Other helpful links, choose Delete a form
5. Select Delete next to Form 1099-MISC and Continue with My Return
If you received 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
If you have filed, you will have to wait until the IRS either accepts or rejects your return. You cannot return to the program to make any changes before that.
If your return got rejected for whatever reasons, you can return to the program to edit info along with other changes. You do not need an amendment 1040-X.
If your return has been accepted, you will have to amend your return by filing a form 1040X. You should not try to amend your return until it has been fully processed and you have received your refund or your payment has cleared.
Beginning with the 2019 tax year, you can e-file amended tax returns. If you used TurboTax to prepare Form 1040-X, follow the software's instructions to e-file the amendment.
To see how to amend your taxes, click here:
@DFG803
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