topic Re: 1099 NEC in Get your taxes done using TurboTax

1099 NEC

RobertDominguezServices — Fri, 12 Mar 2021 21:23:58 GMT

I have a 1099 NEC from last year for 1 month and 2 W2's from different jobs. Do I need to use the 200 dollar Self-employed one to file my taxes

Re: 1099 NEC

LinaJ2020 — Sat, 13 Mar 2021 03:56:43 GMT

If this is a nonemployee compensation, you are still considered as self employed even thought it was only for a month. You can simply use TurboTax Deluxe ($80 including one state download). If you have related expenses to deduct, you should use TurboTax Self Employed online version ($120 plus additional charge for state) Click here for pricing: Online vs Download

If this is not a nonemployee compensation, the program will enter it under Other Income which does not require a Schedule C.

If this is self employed, the net profit will show on your Schedule 1 line 3 and line 8 of your Form 1040. If this is Other Income related, the amount will show on line 8 of Schedule 1 and Form 1040.

Re: 1099 NEC

VolvoGirl — Sat, 13 Mar 2021 03:58:40 GMT

The 1099NEC is for self employment income.

You can enter Self Employment Income into Online Deluxe or Premier but if you have any expenses you will have to upgrade to the Self Employed version. Or use any of the Desktop CD/Download programs.

How to enter income from Self Employment

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653