The Form 1099-NEC has replaced the Form 1099-MISC for nonemployee compensation. There will be no need to enter any 1099-MISC for income received due to services you performed.
Here are steps to enter the 1099-NEC for your business. There are two methods to choose from.
When you are signed into your TurboTax account follow the steps below.
- Select Wages & Income > Self-employment Income > Review
- Select the business where you want to enter your 1099-NEC
- Skip import if you choose > Select Form 1099-NEC, new IRS form for nonemployee compensation (replaces 1099-MISC) > Continue
- Enter your data from the 1099-NEC
NOTE: You can also choose to enter this as a cash payment of business income by selecting Other self-employed income, includes 1099-K, cash, and checks (if you choose this, delete the 1099-NEC). Currently, there is a known issue where the spouse is not connected with the form should this be applicable to your situation.
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