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If this form does not apply to you, you can simply remove it from the program. Here are the steps:
In TurboTax online version:
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.
On your 2019 income tax return, if you did not enter that you stopped or closed your business, the business information transferred to your 2020 income tax return.
Follow these instructions to delete a business that transferred over from your 2019 return but is no longer owned by you as of January 1, 2020.
Instructions
The 1099-NEC form specifically reports Nonemployee Compensation which you may have gotten in previous years on a 1099-MISC. So, if you're self-employed and worked as a freelancer or contractor last year, you probably got a 1099-NEC reporting how much money you were paid in box 1.
Self-employment income:
I've done this step multiple times. My income area only show the W2's from my wife and I.
When I go into the Schedule C page and say "no" it takes me back to my income page and looks fine. Only when I go to review, and only after I stated my state return did this issue come up. Fearing I may have to clear and restart.
If this form does not apply to you, you can simply remove it from the program. Here are the steps:
In TurboTax online version:
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.
I'm glad I'm not the only person experiencing this. My situation was exactly the same, I had 1099-MISC income last year, but not this year. When I reached the Review, it asked me to fill in my 1099-NEC information, but I had not added a 1099-NEC to this year's income. I have already cleared and started over once, and I am running into the same issues the second time around. Hopefully they fix this soon, it would suck to be audited because of a buggy back end carrying over phantom data from last year's filing.
You can delete the 1099-NEC that was carried over from a 1099-MISC on your prior year return.
To summarize information as shown above, please follow the steps below:
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