topic 1099 NEC & Schedule C in Get your taxes done using TurboTax

1099 NEC & Schedule C

CadL — Sun, 31 Jan 2021 22:59:05 GMT

Seems to be an issue with the new 1099 NEC being carried to Sch C.

Entered 1099 NEC as received. There is no checkbox to tell Turbo to carry it to Schedule C for proper calculation of Self-Employment Tax or QBI. Went through Sch C screens to input correct information, then at Smart Check, Turbo told me to unlink either Sch C or "other income." I unlinked to "other income" and the income screen then shows it as Sch C income and not NEC, yet forms appear to be fine.

Anyone have any suggestions?

Re: 1099 NEC & Schedule C

Opus 17 — Sun, 31 Jan 2021 23:10:09 GMT

If you went to the 1099-NEC directly into the 1099-NEC section, which is new this year, a schedule C should be created if you check the box for “I have expenses for this income.“ you can also create the business first in the self-employment section and then add the income there.

This may be a design problem this year, I will add your comment to the other reports that have been made. The moderators of this forum can forward our concerns to the development team but there is no guarantee we will be listened to.

Re: 1099 NEC & Schedule C

CadL — Mon, 01 Feb 2021 21:57:07 GMT

Thank you! I think that's what I did, even though I have no expenses.

Then on the Summary Screen, the 2019 income appears in the 1099 MISC row and the 2020 income appears in the Sch C row, when in reality, it was reported to me on a 1099 NEC. Both years carried to the Sch C properly.

This needs to be addressed.

Re: 1099 NEC & Schedule C

Opus 17 — Mon, 01 Feb 2021 22:00:00 GMT

@CadL wrote:

Thank you! I think that's what I did, even though I have no expenses.

Then on the Summary Screen, the 2019 income appears in the 1099 MISC row and the 2020 income appears in the Sch C row, when in reality, it was reported to me on a 1099 NEC. Both years carried to the Sch C properly.

This needs to be addressed.

The overall situation has been reported and is being investigated. That's all I know for now.

I'm not clear on whether you still need additional help to make sure your return is correct.