Situation: I received a 1099-NEC but I'm not self-employed. I received this form because my previous employer decided to repurchase my shares (which I had purchased with after-tax dollars after exercising NQ options). The amount listed on box #1 /Nonemployee compensation/ is the TOTAL proceeds from the repurchase (not just the gains on top of my tax basis).
Questions:
1. How should I enter the form into TurboTax as most options lead me to create Schedule C, which does not seem suitable for me as this isn't business income.
2. Is the amount on box 1 on the form correct? Shouldn't it only reflect the gain (proceeds less basis)?
TIA for your help!
