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Get your taxes done using TurboTax
Once you input your 1099-NEC, you should answer all of the questions after the input screen so it flows to your return correctly. If it has not been assigned to either Other Income or a Schedule C (self-employment income), TurboTax will give you an error message. If you would like to classify your 1099-NEC as hobby income, you will have to report it as Other Income. It is important to note that hobby-related expenses can no longer be deducted.
Please follow the instructions below:
- Open your return.
- Search for 1099-NEC with the magnifying glass tool at the top of the page.
- Click on the Jump to 1099-NEC link at the top of the search results.
- Click Edit next to your 1099-NEC.
- Continue past the information entered.
- Describe the reason for your 1099-NEC.
- Choose the option This is not money earned as an employee or self-employed individual, it is from a sporadic acitivity or hobby (this is not common) on the page Does one of these uncommon situations apply?
- The amount from your 1099-NEC will flow to Other Income.
Now, your 1099-NEC will flow your income to Other Income (Line 8z of Schedule 1).
- Click on Tax Tools on the left hand side.
- Click on Tools.
- Click on View Tax Summary.
- Click on Preview my 1040 on the left hand side.
- Search for Schedule 1 - Additional Income & Adjustments to Income.
- A description of your Other Income and the amount should be listed in Line 8z.
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March 1, 2022
5:20 AM