topic How do I enter a 1099-NEC in Retirement tax questions

How do I enter a 1099-NEC

gingecat20 — Fri, 14 Feb 2020 08:27:34 GMT

Re: How do I enter a 1099-NEC

DianeC958 — Fri, 14 Feb 2020 13:20:40 GMT

This form is for tax year 2020 and would not be used for your 2019 taxes.

Link to more information about form 1099-NEC

Re: How do I enter a 1099-NEC for 2020

LarryPoz — Fri, 01 Jan 2021 17:42:30 GMT

I am trying to enter Business Income from a 1099-NEC for 2020 taxes. TT is not prompting for NEC nor does it allow you to enter compensation on 1099-MISC

Re: How do I enter a 1099-NEC for 2020

CyberWebGroup — Fri, 01 Jan 2021 21:50:01 GMT

I am having same issue with 2020 1099-NEC entry.

Is it available in TurboTax 2020 SB yet?

Re: How do I enter a 1099-NEC for 2020

DoninGA — Fri, 01 Jan 2021 21:55:54 GMT

@LarryPoz wrote:

I am trying to enter Business Income from a 1099-NEC for 2020 taxes. TT is not prompting for NEC nor does it allow you to enter compensation on 1099-MISC

To enter a Form 1099-NEC -

Click on Federal Taxes
Click on Wages and Income
Click on I'll choose what I work on (if shown)
Scroll down to 1099-MISC and Other Common Income
On Income from Form 1099-NEC, click the start or update button

Re: How do I enter a 1099-NEC for 2020

VolvoGirl — Fri, 01 Jan 2021 22:01:34 GMT

In the Desktop program you can switch to Forms Mode and open a 1099NEC and fill it out. It will populate your return. It will show up on the business income page on the 1099Misc line. That will probably be fixed when they update that part of the program.

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: How do I enter a 1099-NEC for 2020

LarryPoz — Mon, 04 Jan 2021 16:19:32 GMT

Thanks the NEC does not show up. Also, I see that others have replied by saying to update in FORMS. I understand that this is a WORKAROUND but it makes me question the 'logic' behind the form is intact.

Other button are also not working. UPDATE self-employed insurance places you in a loop. Also does not bring up my insurance entry from the previous year.

Re: How do I enter a 1099-NEC for 2020

LarryPoz — Mon, 04 Jan 2021 16:20:54 GMT

I understand that this can be accomplished in FORMS. I also understand that this is a WORKAROUND but it makes me question the 'logic' behind the form is intact.

Other buttons are also not working. UPDATE self-employed insurance places you in a loop and does not allow you to enter data. Also does not bring up my insurance entry from the previous year.