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Business & farm
If someone pays you $600 or more they are suppose to give you a 1099NEC. It used to be a 1099Misc box 7 but this year they moved it to 1099NEC box 1. Yes 1099NEC goes on schedule C line 1 as income. And any 1099NEC you give out goes on Schedule C line 11 as Contract Labor.
If you have the Online version or even in the Desktop program just enter your total business income as Other Self Employment Income or Cash or General. You don't need to enter the actual 1099Misc or 1099NEC. Only the total goes to schedule C line 1.
‎January 23, 2021
4:31 PM