LenaH
Employee Tax Expert

Self employed

I noticed you are using TurboTax Home & Business. I will give you the steps for this TurboTax program (not the online version) and hopefully clear up any of your questions. 

 

First - please confirmed you entered your Schedule C 1099-NEC: 

  1. Open your return.
  2. Click on Personal.
  3. Click on Personal Income
  4. Click on I'll Choose what I work on.
  5. Scroll down to Income from Form 1099-NEC.
  6. Click Update.
  7. Click Edit next to your 1099-NEC on the 1099-NEC Summary screen
  8. Continue past the information entered. 
  9. On the screen Does one of these uncommon situations apply? answer None of these apply to me
  10. Select the Schedule C business or add a new business on the page Self-employed 1099-NEC Income.

Next - please follow to confirm you entered your Other Income 1099-NEC:

  1. On the 1099-NEC Summary screen ( Step#7 above) , click Edit next to your second 1099-NEC.
  2. Continue past the information entered. 
  3. On the screen Does one of these uncommon situations apply? answer This is not money earned as an employee or self-employed individual, it is from a sporadic acitivity or hobby (this is not common).

Lastly - please confirm you deducted the amount of your second 1099-NEC:

  1. Click on the Personal tab.
  2. Click Personal Income.
  3. Click I'll choose what I work on.
  4. Scroll down to Miscellaneous Income
  5. Click Update or Start.
  6. Click Start or Update next to Other reportable income.
  7. Answer Yes to Any Other Taxable Income?
  8. List description as "Income already reported on 1099-NEC (enter Payer TIN here from second 1099-NEC)"
  9. Enter the amount as a negative.

To confirm this was completed correctly, please follow these steps to see your federal forms:

  1. Click on Forms.
  2. Click on Schedule 1 on the left hand side. 
  3. Go to Line 8z.
  4. Line 8z should be your second 1099-NEC with a positive and negative number, netting to zero. 

@Taxedguy2022

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"