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Deductions & credits
Q. Shouldn't my standard deduction be $5150?
A. Yes, but not exactly. See VolvoGirl's explanation below.
The most likely explanation is that you have entered the 1099-NEC income as "other income" (line 8 of Schedule 1}, rather than self employment income on Schedule C. As other income, the $4800 is classified as unearned income and you only get a $1100 standard deduction. Self employment, on the other hand, is earned income and gets you the "earned income +$350" standard deduction.
Whether TurboTax (TT) treats the income as self employment or other income, depends on you answer the follow up questions, after entering the 1099-NEC. Be aware, there was a recent update to TT for this issue.
The IRS considers anything on a form 1099-NEC to be self employment income. Enter the 1099 income, at Other Common income / income from a 1099-NEC . TurboTax (TT) will complete Schedule C for you and allow you to deduct any expenses associated with this income. You'll also have to pay self employment tax (social security & Medicare) on any profits greater than $432. These types of payments are frequently done this way. Your "employer" is not the only one.