JamesG1
Expert Alumni

Business & farm

This TurboTax Help states:

 

Whether you are a sole proprietor, an independent contractor, a consultant or a freelancer, you are probably getting some or all of your income reported on a 1099-NEC, 1099-MISC or 1099-K. 

 

The IRS may presume that 1099-NEC box 1 income is self-employment income subject to self-employment tax and the Qualified Business Income Deduction (QBID).

 

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