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The nature of the new Form 1099NEC says that is "Self-employed" income. It should have been issued on a 1099-Misc. However, you can enter this as "Other reportable income" and indicate the form 1099NEC you received so the IRS can reconcile it.
First delete the entry from the "Other Common Income" topic and/or self-employment topic to clear it.
Then,
Where are you entering this. If you chose Schedule C and entered in the spot indicated in the screenshot, there should be no reason to get this question.
Hi ColeenD3, Thanks for your response. I'm entering it in "Other Common Income" as that specifically listed 1099-NEC (the form we received) as one of the options. The income is from a court settlement, but it is not back pay.
Dennis
If you received a lawsuit settlement on a 1099-MISC, it should not be entered on a Schedule C. This income should flow to Other Income on your return.
Please follow the instructions below:
Next, please make sure to delete any Schedule C or associated self-employment forms in your return.
Hi LenaH. Thanks for your response. I'm entering it in "Other Common Income" as that specifically listed 1099-NEC (the form we received) as one of the options. The income is from a court settlement, but it is not back pay.
Dennis
The nature of the new Form 1099NEC says that is "Self-employed" income. It should have been issued on a 1099-Misc. However, you can enter this as "Other reportable income" and indicate the form 1099NEC you received so the IRS can reconcile it.
First delete the entry from the "Other Common Income" topic and/or self-employment topic to clear it.
Then,
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