The 1099-NEC is new for 2020. For purposes of the thread above, it is the same as having received a 1099-Misc with the amount in box 7.
The IRS considers anything on a form 1099-NEC to be self employment income. Enter the 1099 income, at Other Common income / income from a 1099-NEC . TurboTax (TT) will complete Schedule C for you and allow you to deduct any expenses associated with this income. You'll also have to pay self employment tax (social security & Medicare) on any profits greater than $432. These types of payments are frequently done this way. Your "employer" is not the only one.
If you feel that this is not self employment income, see above for how to work around reporting it, on Schedule C, as self employment.
