1099-NEC

[psmed31]

I am filing my taxes and selected the Home and Business TurboTax as my only income this year was from a 1099-NEC. I went through the entire process and was left stuck as I could not figure out how to finish filing my taxes. I called TurboTax and the gentleman I spoke with ultimately told me after an hour and 20 minutes that I bought the wrong one because I do not have my own business. I asked the question of why would the home and business be advertised for independent contractors (which I am) but not be able to be used for independent contractors of individual companies, I did not receive a straight answer. I was told I would receive a refund (which is said resolved but I have yet to receive it, another issue), and to downgrade my product to the premier version because I do not have my own business. 

Now my biggest concern is that if I purchase the Premier version, will there be an option for me to select my income for a 1099-NEC?

Any help on this would be greatly appreciated.

[DianeW777]

It depends.  If you have TurboTax Desktop, you can keep the version you have for self employment or you can choose to use TurboTax Premier Desktop.  You can file your self employment with either desktop version.  If you would use TurboTax Online you must use TurboTax Self Employed, and TurboTax will guide you to the upgrade as needed.

The Form 1099-NEC, itself, indicates self employment as an independent contractor. You can enter the 1099-NEC under self employment income or you can choose to simply enter the income amount on your self employment income section. 

1. Open your TurboTax Return > Search (upper right) > Type schedule c > Click the Jump to... link > Begin your self employment entries for income and expense.  
   • How do I report income from self employment?
   • What self employment expenses can I deduct?
   • Depreciation of Business Assets
   • What is depreciation?
   • IRS Guide to Business Expenses

Please update here if you have other questions with more detail about your experience when trying to file and we can help.