Form 1099-NEC is used to report any compensation given to non-employees by a company
Your employer is treated you as self employed. If you do not agree with this classification you can speak with your employer to request to be treated as an employee and given a W-2.
If your employer doesn't agree, your can file Form SS-8 to request a determination of the status.
As self employed you can claim your expenses. To be deductible, a business expense must be both ordinary and necessary.
An ordinary expense is one that is common and accepted in your industry. A necessary expense is one that is helpful and appropriate for your trade or business. An expense does not have to be indispensable to be considered necessary. Irs.gov
To report your self employment Income and expenses:
- 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 Expenses.
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