The 1099-NEC is a simple form, and I put in all the info. But TurboTax says my form is still incomplete.
If you receive tax form 1099-NEC for services you provide to a client as an independent contractor and the annual payments you receive total $400 or more, you'll need to file your taxes a little differently than a taxpayer who only receives regular employment income reported on a W-2.
If you received a 1099-NEC, it should be entered under Business Income and Expenses Schedule C.
You will need to enter your business information which will create your business profile.
Once you have done that, you will find the entry under Business Income which will be within the Business Income and Expenses section.
The IRS has reintroduced Form 1099-NEC as the new way to report self-employment income instead of Form 1099-MISC as traditionally had been used. This was done to help clarify the separate filing deadlines on Form 1099-MISC and the new 1099-NEC form will be used starting with the 2020 tax year.
If you are self-employed,
everytime I complete the 1099 NEC form with my contratcors information I receive a server error message and Im prompted to return to my business page why?
It Is happening to me.
I have a 1099-nec with only box 1 filled in for $X. My form does not have boxes 5-7.
Turbotax help tried to help but could not, had to transfer me to Live Tax. During the call transfer, I was asked to upgrade to "Live Tax" so the call would go through - I chose #2 (No) because this seems to be a bug.
I intend to call back when I have time.
Try deleting the form, logging out, clearing your cache and cookies, log back in, re-enter the 1099-NEC. Beginning with the 2020 tax year, the IRS will require business taxpayers to report nonemployee compensation on the new Form 1099-NEC instead of on Form 1099-MISC. Businesses will need to use this form if they made payments totaling $600 or more to a nonemployee, such as an independent contractor. This was done to help clarify the separate filing deadlines on Form 1099-MISC and the new 1099-NEC form will be used starting with the 2020 tax year.
Try reviewing your forms in TurboTax and deleting the duplicate. While in your return in TurboTax:
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