Hi all,
I'm in a strange situation and I'm not sure what I'm doing wrong. I completed my Turbotax and chose the file-by-mail option, but then found that I had a pending 1099-NEC. This amount was about $10k and I received it as a part of a compensation for work that I did two years ago.
My original return showed a federal refund but when I amend my return and add the 1099-NEC, my refund vanishes and turbotax shows need to pay ~$2k. I used the Turbotax estimator for calculating my tax and it showed that my refund went less by $1k. I am not sure how to go about amending this and what I'm doing wrong. I'm a very underfunded graduate student and cannot afford to pay such a high tax!
Any pointers will be appreciated.
Thanks,
