When you receive a 1099-NEC for a part-time job without a business, the income counts as self-employment income subject to self-employment tax.
Even if you don't have your own business, this income typically requires filing Schedule C to report the earnings and Schedule SE to calculate self-employment tax, which covers Social Security and Medicare taxes.
There is generally no way to avoid self-employment tax on this income because it is treated as earnings from self-employment. However, you can reduce your taxable income by deducting eligible business expenses related to the job.
How to enter this in TurboTax Online:
1. Go to the Wages & Income section.
2. Find Income from Form 1099-NEC and select Start.
3. Indicate the income is Self-employment income.
4. Say Yes when asked if you had expenses.
5. Enter your income and the expenses you can deduct.
TurboTax will calculate your taxable income and self-employment tax accordingly.
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