topic 1099-nec in Business & farm

1099-nec

mnissenbaum — Wed, 24 Mar 2021 02:48:51 GMT

I received two 1099-NEC form for non-employee income I received as a sport official. I can't find where I enter the 1099-NEC form in my Schedule C. Could you provide direction on how to enter these two 1099-NEC forms

Re: 1099-nec

DavidD66 — Wed, 24 Mar 2021 03:44:12 GMT

To report the income from your 1099-NEC, while logged in to your return:

Click on Search
Type in "1099-NEC" and hit enter
Click on "Jump to 1099-nec"
Enter the information on your 1099-NEC

Be sure you have created your business (to generate a Schedule C) in TurboTax so you can link your 1099-NEC to your business/Schedule C.

Also, be sure you report any expenses you have related to your self-employment income, such as mileage, uniforms, supplies, etc. Not only will it reduce your income tax, it will reduce your self-employment tax.

Re: 1099-nec

mnissenbaum — Thu, 25 Mar 2021 00:02:55 GMT

I entered 1099-nec in the seach box and there is no option to "Jump to 1099-nec" What do I do now?

Re: 1099-nec

CatinaT1 — Thu, 25 Mar 2021 12:43:09 GMT

You can enter the Form 1099-NEC as part of the Schedule C so that the income is reported directly as part of your Business Income and Expenses and within the correct form and section of your return.

Follow these steps to go to the Schedule C section of your return:

On the top right corner of TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner).
Type in “schedule c” (or for CD/downloaded TurboTax, click Find).
Click on “Jump to schedule c”.
Click on the blue “Jump to schedule c” link

If you already have created a Schedule C in your return, click on edit and go to the section to Add Income. This is where you will re-enter the Form 1099-NEC.

Re: 1099-nec

PSW60 — Wed, 14 Apr 2021 21:02:31 GMT

I entered my 1099-NEC information as instructed in the software. Why isn't it populating Schedule C automatically? Will the software be corrected or do I need to manually re-enter the information directly on Schedule C? Why hasn't this been fixed? I am seeing questions from January and it is now April 14th. Thanks

Re: 1099-nec

PSW60 — Wed, 14 Apr 2021 21:17:05 GMT

How do you create a business in order to have Schedule C populate? I received a 1099-NEC for board of director fees. What do I need to do?

Re: 1099-nec

ToddL99 — Wed, 14 Apr 2021 21:30:59 GMT

To "create" a business, you will need TurboTax Self-Employed (or desktop Home & Business) - enter "1099nec" in the Search Box and select "jump to 1099nec" from the results.

This will take you to the 1099-NEC interview - completing that interview will create your "business" and the necessary tax forms to report self-employment income (Schedule C and Schedule SE, at a minimum).

See the following for aid in navigating: