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credman14
New Member

Turbotax is forcing me to review a schedule C: 1099-NEC but I do not have one for 2020, what do I do? My only employer for 2020 provided me with a W-2.

 
2 Replies
AlanT222
Expert Alumni

Turbotax is forcing me to review a schedule C: 1099-NEC but I do not have one for 2020, what do I do? My only employer for 2020 provided me with a W-2.

If you had self-employment in 2019, the forms transferred over to the new program.  

 

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.

  1. With your return open, search for business (schedule c). Be sure to include the parentheses.
  2. Select the Jump to link in the search results.
  3. On the Your 2020 self-employed work summary screen, select the trash can icon next to the defunct business.
  4. Answer Yes, delete this info to confirm the removal of all business-related forms.
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LinaJ2020
Expert Alumni

Turbotax is forcing me to review a schedule C: 1099-NEC but I do not have one for 2020, what do I do? My only employer for 2020 provided me with a W-2.

You can simply remove it from the program.  Here are the steps:

 

In TurboTax online,

 

1.  Sign into your account, select Pick up where you left off

2.  Select Tax Tools, click on the drop down arrow

3.  Select Tools

4.  Under Other helpful links, choose Delete a form

5.  Select Delete next to Form 1099-NEC and Continue with My Return

 

 

One of the most common reasons you’d receive tax form 1099-NEC (Form 1099-MISC in prior years) is if you're self-employed or did work as an independent contractor during the previous year. The IRS refers to this as “nonemployee compensation.”

  • In most circumstances, your clients are required to issue Form 1099-NEC when they pay you $600 or more in any year.
  • As a self-employed person, you're required to report your self-employment income if the amount you receive from all sources totals $400 or more. 

Your self-employment net profit will show on your Schedule 1 line 3 and line 8 of your Form 1040. 

 

 

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