You will have to report your 1099 income on Schedule C as self-employment income. Issuing yourself a 1099 is a fairly common work around for not having paid an adequate salary and reporting on Form W-2; however, it is not the correct way to pay yourself. That said, it will probably go unnoticed, especially if it is a one time occurrence. The 1099 should have been a 1099-NEC. To report it,
- Click on Search
- Enter 1099-B
- Click on the Jump to Link
- TurboTax will guide you through reporting your 1099 Income
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