1099 miscellaneous

blonde82 — Sat, 01 Jun 2019 04:54:34 GMT

I received a 1099 misc after I have filed and the only thing on 1099 is box 7 non employee compensation. Do I need to file or amend this info?

Yes, you need to amend your return. An amount in box 7 of...

BMcCalpin — Sat, 01 Jun 2019 04:54:35 GMT

Yes, you need to amend your return.

An amount in box 7 of the 1099-MISC indicates that you receive non-employee compensation. This compensation is normally reported on Schedule C of the 1040, because it is considered "self-employment".

To handle the self-employment, you indicate that you have income from a business. The different versions of TurboTax do this in different ways, but in Deluxe, for example, you would go to Federal Taxes->Wages & Income->Self-employment income (1099-MISC, etc.) and expenses and start the interview.

Note that the IRS has been sent a copy of the 1099-MISC, so you will want to amend the return to match your return and the IRS's records match.

To amend the return, please see the following:

If you have already filed your return, you will have to do the following:

1. Wait until your original return has finished being processed by the IRS. How will you know? Well, if you are due a refund, then when you receive it, you know they are finished processing. If you are not due a refund, then wait at least at least 3 weeks to make sure that they are finished with it.

2. Amend your return through TurboTax, adding the new 1099-MISC information. For more information on the amendment process, please see the following:

Please see this video from TurboTax explaining the amendment process if you want to do it yourself - https://turbotax.intuit.com/tax-tools/tax-tips/IRS-Tax-Return/Video--How-to-Amend-Taxes-That-Are-Alr...

If you want to do the amendment through TurboTax, please read the article at this link - https://turbotax.intuit.com/tax-tools/tax-tips/IRS-Tax-Return/Amending-Your-Income-Tax-Return/INF120...

Normally, you would reopen the return and indicate that you want to amend the return, and then proceed through the interview.

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1099 miscellaneous

Yes, you need to amend your return. An amount in box 7 of...