You will have to report your income from Form 1099-NEC on Schedule C. The IRS considers this income as self-employment income, which is why TurboTax is asking you questions about your business. You don't have to name the business, you can use your name. The good thing is that you'll be able to deduct reasonable and customary business expenses from that income.
To report self-employment income, follow the steps below:
- Open TurboTax.
- Enter self-employed income in the search bar
- Select the Jump to link at the top of the search results.
- Answer Yes on the Did you have any self-employment income or expenses? screen.
- Answer the questions on the following screens until you arrive at Let's enter the income for your work.
- Select 1099-NEC and select Continue.
- You can enter the info from your 1099 form on the following screens.
For additional information, refer to the TurboTax Help articles How to File Taxes with IRS Form 1099-NEC, Reporting Self-Employment Business Income and Deductions, and What self-employed expenses can I deduct?
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