Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
yogasavta
New Member

I got a 1099-NEC form for nonemplyee compensation, but cannot find where to put this info.

I do not think I need schedule C as I made very little money due to Covid
I just want to enter it as income and not deduct anything
1 Best answer

Accepted Solutions
tagteam
Level 15

I got a 1099-NEC form for nonemplyee compensation, but cannot find where to put this info.

If it is income from self-employment, then it belongs on Schedule C.

 

Even if you made very little, if that amount was as little as $433 you owe self-employment tax. 

View solution in original post

2 Replies
tagteam
Level 15

I got a 1099-NEC form for nonemplyee compensation, but cannot find where to put this info.

If it is income from self-employment, then it belongs on Schedule C.

 

Even if you made very little, if that amount was as little as $433 you owe self-employment tax. 

View solution in original post

ErnestoF4
Expert Alumni

I got a 1099-NEC form for nonemplyee compensation, but cannot find where to put this info.

Yes, you should file a Schedule C for the 1099-NEC income.

 

The type of income is non employee compensation, it is business income. It is therefore subject to self-employment tax and the self-employment tax is calculated from the net profit (1099-NEC minus expenses), as well as the deduction for one half of self-employment tax.

 

For more information on how to enter the 1099-NEC follow this link: How do I report income from self-employment?  Please note the form referenced in this link is 1099-MISC but that has changed to form 1099-NEC. 

 

 

Dynamic AdsDynamic Ads
Privacy Settings
v