topic I received an electronic 1099MISC IRS Tax Form. but I'm not sure what it means or what I'm supposed to do with it. The only box that has anything in it is box 7. in Get your taxes done using TurboTax

I received an electronic 1099MISC IRS Tax Form. but I'm not sure what it means or what I'm supposed to do with it. The only box that has anything in it is box 7.

areli-e — Wed, 29 Jan 2020 07:52:59 GMT

Re: I received an electronic 1099MISC IRS Tax Form. but I'm not sure what it means or what I'm su...

JohnB5677 — Mon, 13 Apr 2020 19:17:12 GMT

BOX 7 of the 1099-MISC is Nonemployee Compensation. This means you got some money from someone you did work for.

Look at the top left corner of the FORM and it will tell you the PAYER's name and address. This is considered income and must be posted to your tax return.

To post this go to:

INCOME
Other Common Income
Income from a 1099-MISC
Enter the information

Re: I received an electronic 1099MISC IRS Tax Form. but I'm not sure what it means or what I'm su...

h2oman — Sat, 06 Feb 2021 20:50:35 GMT

The 1099 MISC received has amounts in Box 7. The TurboTax form (desktop Deluxe) for entering information in Box 7 does not appear in the 1099 MISC form.

Re: I received an electronic 1099MISC IRS Tax Form. but I'm not sure what it means or what I'm su...

DianeW777 — Sun, 07 Feb 2021 14:53:06 GMT

The Form 1099-MISC has been changed for 2020 and it seems you may have a form that is outdated. However this can be filed easily by using the Form 1099-NEC entry which is the replacement form for Box 7, Form 1099-MISC.

When you are signed into your TurboTax account follow the steps below.

Select Wages & Income > Self-employment Income > Review
Select the business where you want to enter your 1099-NEC
Skip import > Select Form 1099-NEC, new IRS form for nonemployee compensation (replaces 1099-MISC) > Continue
Enter your data from the 1099-NEC (Box 1 is where you will enter your Box 7 amount)

NOTE: You can also choose to enter this as a cash payment of business income by selecting Other self-employed income, includes 1099-K, cash, and checks (if you choose this, delete the 1099-NEC). Currently, there is a known issue where the spouse is not connected with the form should this be applicable to your situation.