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After you file
You can enter the income reported on the 1099-NEC in TurboTax as "Less Common Income," which is reported on line 8 of 1040 Schedule 1 and will not generate Schedule C or SE tax. Please use the following steps:
- Miscellaneous Income, using these steps:
- Click on Federal > Wages & Income
- In the Less Common Income section , click on the Start/Update box next to Miscellaneous Income, 1099-A, 1099-C.
- On the Let's Work on Any Miscellaneous Income screen, click the Start/Update box next to Other reportable income.
- On the screen, Any Other Taxable Income? click the Yes box.
- On the next screen, Other Taxable Income, enter a description and the amount. Click Continue.
- The amount entered will appear on line 8 of Schedule 1 of the 1040.
March 12, 2021
12:19 PM