If you are paid as a freelancer, independent contractor or not as an employee of a third party business, you will receive a 1099-NEC form. You can expect to receive this form from a business that paid you $600 or more for nonemployee compensation and you should receive the form by January 31.
The income will be reported as Self Employment Income. You need to upgrade to Turbo Tax Self-Employed (Online) or TurboTax Home & Business (desktop).
To report the income on your return:
- Log in to your account.
- Select Federal from the left menu.
- Go to Wages and Income then select Income and Expenses.
- Go to Self-employment income and expenses and click start. you'll be asked some general questions about your business. After you answer them, you’ll be taken to enter your Income and Expenses.
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