Retirement tax questions

@neojgao  If your 1099-NEC form has a Social Security Number instead of an Employer Identification Number:

• On the Let's get the info from your 1099-NEC screen, select the radio circle next to xxx-xx-xxxx instead of Payer's federal ID Number.

The 1099-NEC form specifically reports Nonemployee Compensation if you worked as a freelancer or contractor last year. Report your self-employment income on Schedule C, Profit or Loss From Business. 

• If an expense is directly related to the work you do, you can deduct it as an expense. 
• Work-related expenses reduce your taxes by lowering the amount of self-employment income you get taxed on