You are required to issue Form 1099-NECs to those professional companies which you have incurred expenses for more than $600. Click here: 1099-NEC
To create Form 1099-NEC, here are the steps:
In TurboTax Self-employed online program,
- After sign in, select Pick up where you left off
- On your left menu, select Tax Tools/drop-down menu, then Tools
- On the next pop-up box, Tools Center, select Topic Search
- Under Topic Search, type in Create and highlight create from 1099-misc or w-2
- Select Go
- On screen,"W-2/1099 Reporter" select Start here
- Follow prompts
These will be considered as your rental expenses on Schedule E. It will show on line 5 of Schedule 1 and line 8 of your Form 1040.
[Edited 3/23/2021 9: 17 am EST]
@reweinzinger
Please see edited response. Sorry for the confusion.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
