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Deductions & credits
Are you just venting or looking for an answer? For an answer, you need to identify the amount and source(s) of the income. With 1099-NEC income, your net earned income, is reduced by the self employment tax (SET) deduction (1/2 your SET) in calculating your standard deduction. Earned income is net self employment, not necessarily the amount on the 1099-NEC.
Bottom line: TurboTax is not doing it wrong. You are entering it wrong or, more likely, not understanding how the standard deduction is calculated.
‎June 12, 2021
4:29 AM
1,863 Views