As a self-employed individual, you may claim all expenses related to this income. In some cases, your expenses may exceed your income, the IRS expects you to make a profit within a reasonable length of time (three out of five years). So, keep good records. Xmasbaby0 provided several references to help you complete the entries for your Schedule C Self-Employment business.
@Rhoward84
If you have a 1099NEC you do not have an employer---you have a client. NEC means "non-employee compensation." You are an independent contractor for that client.
You will be paying self-employment tax on that income for Social Security and Medicare.
ALL of your income including your W-2's and the 1099NEC go on the same tax return. Since you need to prepare a Schedule C you will need to use online Premium software or any version of the CD/download.
https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes
https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922
https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax
https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c
https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct
https://blog.turbotax.intuit.com/self-employed/self-employed-tax-deductions-
As a self-employed individual, you may claim all expenses related to this income. In some cases, your expenses may exceed your income, the IRS expects you to make a profit within a reasonable length of time (three out of five years). So, keep good records. Xmasbaby0 provided several references to help you complete the entries for your Schedule C Self-Employment business.
@Rhoward84