1099-NEC

[lehogan]

I am a Realtor and  received a 1099-NEC from my broker. She put the total gross commission (mine and hers) in box 1 together even though her commission/deduction/fees were taken out before she gave me my commission checks. So box 1 looks like I made way more than I actually did. In addition, on the form she added "TR/Fees & Exp. Ded. $------" (this is the amount she received as her spit commission) in the box that says "Account Number (see instructions)" that is not a numbered box on the form.

I am unsure where to put the commission she took out, do I: 

1: subtract her commission split  (that I never received, she took it out before paying me) from the gross amount from box 1 and put the actual amount I made in Box 1 Nonemployee Compensation (I have all checks and invoices to back this up or 

2: Do I put her commission that she took out in a deduction section? If so, which one?

[AliciaP1]

You will enter the full amount of the 1099-NEC as self-employment income and list the broker commission as an expense (the Commissions category will work perfectly!  You may also be entitled to deduct some other "ordinary and necessary" business expenses from your income.  See What self-employed expenses can I deduct? for more details.

You can enter your 1099-NEC in TurboTax Online by following these steps:

1. Open or continue your return in TurboTax
2. Search for self employed income (use this exact phrase, don't add a hyphen) and select the Jump to link at the top of the search results
3. Answer Yes on the Did you have any self-employment income or expenses? screen
   • If you land on the Your 2022 self-employed work summary page, select Review next to the work you're adding income for
4. Answer the questions on the following screens until you arrive at Let's enter the income for your work
5. Select the form that applies to your situation and Continue
6. You can enter the info from your 1099 form on the following screens
7. You will then be asked about expenses to enter for your business