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Deductions & credits
Thanks for the help on how to file this income to exclude it as taxable income.
I want to ask if I can just file the 1099-NEC as it is received in turbotax, and then in the bussiness expense section(I assume that will create a schedule C), write the same amount as expense and add that as: Qualified Medicaid waiver payments exclusion (Notice 2014-7).
Will this be also a way to do it, if so, compare to the way you suggested, which one is better, and any reason for that?
Really appreciate your help.
‎February 6, 2021
7:42 PM