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Business & farm
In an effort to eliminate confusion and avoid relabeling of entries, I recommend that you:
- First, create the self-employment activities within TurboTax, then,
- Second, enter IRS form 1099-NEC income into the appropriate self-employment activity.
So, if you have self-employment activities A and B and IRS forms 1099-NEC X, Y and Z:
- Create self-employment activity A, then
- Create self-employment activity B, then
Enter the appropriate 1099-NEC into the correct self-employment activity. For instance,
- Enter IRS form 1099-NEC X and Y into self-employment activity A, and
- Enter IRS form 1099-NEC Z into self-employment activity B.
In TurboTax Online, create the self-employment activity by following these steps:
- Down the left side of the screen, click Federal.
- Down the left side of the screen, click Wages & Income.
- Scroll down to Self-employment click on the dropdown menu.
- Click Start/Revisit to the right of Self-employment income and expenses.
In TurboTax Online, within the create the self-employment activity:
- Click Edit to the right of the appropriate self-employment activity.
- Under Income, select Add income for this work.
- Select Form 1099-NEC. Click Continue.
- Enter the appropriate income.
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March 11, 2024
6:11 AM