topic Where do i list 1099-NEC? in Retirement tax questions

Where do i list 1099-NEC?

cdorsey_1 — Mon, 10 Feb 2020 02:15:33 GMT

Re: Where do i list 1099-NEC?

JotikaT2 — Mon, 10 Feb 2020 02:38:28 GMT

Please look at the year on your Form 1099-NEC. This form is not scheduled to be used in tax returns until the 2020 Tax return returns.

As we are currently preparing 2019 Tax returns, you may want to go back to the issuer of the 1099-NEC to determine if it should have been a 1099-Misc Form instead.

Attached is additional information on the 1099-NEC.

1099-NEC form information for 2020

Re: Where do i list 1099-NEC?

Greg-rsm — Sat, 16 Jan 2021 06:25:13 GMT

Why does the TurboTax software personal income section not include 1099-NEC for 2020?

Re: Where do i list 1099-NEC?

VolvoGirl — Sat, 16 Jan 2021 06:32:54 GMT

@Greg-rsm Are you using the Desktop program? If you are not showing 1099NEC income you need to update your program. It was just added on Jan 7. Are you on Windows? Go up to Online - Check for Updates.

If you have the Online version or even in the Desktop program just enter your total business income as Cash or General. You don't need to enter the actual 1099Misc or 1099NEC. Only the total goes to schedule C line 1.

Re: Where do i list 1099-NEC for Tax Year 2020?

Greg-rsm — Mon, 18 Jan 2021 01:43:14 GMT

Where is the section to enter 1099-NEC information for Tax Year 2020? I have the most updated version of TurboTax and it is not included in the Personal Income section.

Re: Where do i list 1099-NEC for Tax Year 2020?

los347 — Tue, 19 Jan 2021 16:55:12 GMT

I am up to date also and do not see it

Re: Where do i list 1099-NEC for Tax Year 2020?

VolvoGirl — Tue, 19 Jan 2021 17:58:32 GMT

If you have the Home & Business version it is only listed under Business.

Go to Business tab- then Continue
Choose Jump to Full List -or I'll choose what I work on

Then…..
Business Income and Expenses - Click the Start or Update button

If you haven't added a business yet you have to go though a lot of screens describing your business. Or if you already added your business, you should see the Business Summary page that lists your businesses, (right below the list you can Add Another Business)

Then click EDIT by the business name and the next screen should be a list of topics,
Business Profile, Income, Inventory/Cost of Goods Sold, Expenses, Assets, and Final Details last.

Click Start or Update by Business Income