The 1099-NEC would be issued to an employee if you perform work for the business in an amount over $600.
As @Kat stated, you are considered self-employed for this income and a Schedule C will need to be completed.
To enter self-employment income into TurboTax Online you will follow these steps:
- Select Wage & Income from the left-hand side of the screen
- Scroll down to see all income. Select the Self-Employment section
- Click start next to Income & Expenses
- Continue through the interview questions.
By claiming self-employment income, you can also write off a variety of business expenses you paid for the work performed. A few examples of expenses would be:
- Advertising Cost
- Commissions
- Supplies
- Legal Fees
- Repairs and maintenance
- Office Expenses
You will want to make sure to maintain an accurate record of all expenses claimed on the return.
For more information on self-employment income and expenses please see the following links:
Reporting Self-Employment Income and Deductions
What is Form 1099-NEC?
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