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Retirement tax questions
Please don't post the check image. We have removed it again for security reasons.
You can report this income without a 1099-NEC. Payments on Form 1099-NEC are for self-employment as a non-employee. You said that you have TurboTax Home & Business. If this payment was received for a business that you are reporting on a Schedule C, you can just add the income shown on the check to that business.
If you haven't started a business Schedule C into TurboTax yet, you can add a new business and include this income.
The amount of the check would be entered in TurboTax Home and Business on the screen:
- Go to Wages & Income
- Scroll down to Business Items
- Select Business Income and Expenses (Sch C) and Start or Update
- Follow the prompts and enter information about your business that received the check
- Continue to Enter Business Income That's Not on a 1099-NEC or a 1099-MISC
- In the space for Income or Sales, enter the amount of the check.
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March 14, 2022
8:13 PM