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New Member
posted Mar 4, 2024 9:40:48 AM

1099 - NEC form. How do i enter this info.

I did about a month of sub-contracting research work, and received a 1099-nec from the business.  I worked from home and I really did not have any expenses.  it was computer work for the most part.  what form do i used to enter this on for my federal taxes?

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2 Replies
Level 15
Mar 4, 2024 9:49:58 AM

Actually you can just enter it as Other self employment income or as Cash or General income. You don't need to get a 1099NEC or 1099K. Even if you did you can enter all your income as Cash. Only the total goes to schedule C. You should be entering the income from your own records.


You can enter Self Employment Income into Online Deluxe but if you have any expenses you will have to upgrade to Premium 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

Expert Alumni
Mar 4, 2024 9:54:36 AM

Form 1099-NEC specifically reports Nonemployee Compensation, which you may have gotten in previous years on a 1099-MISC. So, if you worked as a freelancer or contractor last year, you probably got a 1099-NEC reporting how much money you were paid in box 1.

 

To enter your Form 1099-NEC in TurboTax:

  1. Sign in and open or continue your return.
  2. Search for 1099-NEC and select the Jump to link.  
  3. Answer the questions and continue through to enter the information from your form.
    • If you have multiple 1099-NECs to enter, you can select +Add Another 1099-NEC on the 1099-NEC Summary screen.

When you’re done, we’ll ask you a few questions and help you through entering any expenses you may have so that you can reduce your taxable income.

 

When you’re paid this way, there’s no withholding taken out of your income, which means you’ll pay both self-employment tax and income tax.

 

A benefit of being self-employed is that it enables you to have lots of write-offs, so make sure to enter all your expenses. This helps you reduce the taxes you might owe or increase your refund.