1099-nec

td01011957 — Fri, 14 May 2021 00:08:01 GMT

Entered a 1099-nec. the 1099-NEC comes up as "0" and the business income and expenses comes up with the amount entered in the 1099-NEC. All of my expenses are then ignored, and it forces the standard deduction.

WHY????

Re: 1099-nec

LinaJ2020 — Fri, 14 May 2021 00:59:19 GMT

You will need to enter the information in both Form 1099-NEC and Schedule C sections. You would start from the 1099-NEC section under "1099-MISC and Other Common Income". You would then follow prompts to tell the program you are filing a Schedule C. As it creates a Schedule C for you, you will need to go to the Schedule C portion separately to confirm your income amount, add related expenses and complete required information.

In TurboTax online, here are the steps:

Sign into your account, select Pick up where you left off
From the upper right menu, select Search and type in 1099nec and Enter
Select the Jump to 1099nec
Follow prompts to complete the section

Then

From the upper right menu, select Search and type in schedule c and Enter
Select the Jump to schedule c
Next screen, "Your 2020 work summary" under your self employed business, select Review
Continue to enter related expenses and other required information

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1099-nec

Re: 1099-nec