You are entering a 1099-NEC as income into TurboTax Business reporting a partnership tax return.
- Across the top of the page, select Federal Taxes.
- Select Income.
- Under Business Income, select Start / Update to the right of Service receipts.
You may report individual form 1099-NEC's by creating individual Receipts or sales categories.
However, you may also report sales receipts from your profit and loss statement and not report individual 1099-NEC's.
As an example, your profit and loss reports:
- Receipts of $200,000 which includes
- one 1099-NEC for $10,000.
You may create one line for the $10,000 1099-NEC and a second line for the remaining Receipts of $190,000.
Or you may create one line for the Receipts of $200,000.
In either case, retain the 1099-NEC form with your tax records.
@JL Johnsonnnnn
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