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You will report the W2 income normally for both periods you were an employee.
For the 1099-NEC, you will have to file a Schedule C and Schedule SE for the Self-Employment income tax- you can deduct any expenses incurred during the time you were an independent contractor. Be sure to indicate that you both started and ended the business in 2020 to report it properly to the IRS.
How do I do that here? When I select add another W-2 I select I have a 1099. It gives me the options for 1099-MISC and 1099-R...Which one do I choose for my 1099-NEC?
After you have entered the first W-2 you will be asked if you have another W-2 to enter. Click the Yes box and enter the information from your second W-2.
Since you have income reported on form 1099-NEC, which is considered self-employment income, if you are using the TurboTax Online Free Edition, you will have to upgrade to:
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