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Did I file my 1099-NEC right?

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2 Replies
MinhT1
Expert Alumni

Did I file my 1099-NEC right?

Income reported in box 1 of form 1099-NEC is self-employed income. You are considered as self-employed and in IRS terms, are operating a business doing what you do to earn the income reported on the form 1099-NEC. You enter your form 1099-NEC in TurboTax and TurboTax will populate a Schedule C after you enter all your information. You can deduct any expenses you paid related to this activity (such as supplies, car expenses, etc.)

 

Self-employed income is subject to income tax AND self-employment tax (calculated at 15.3% on 92.35% of net self-employed income).

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Did I file my 1099-NEC right?

This is the user forum. We cannot see your tax return.  If you are self-employed, you have to pay self-employment tax for Social Security and Medicare as well as ordinary income tax.

 

 

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

 

You are posting from TurboTax Live.  You can arrange for the Live help you are paying the extra fee for with your questions from 5 a.m. to 9 p.m. Pacific time.

https://ttlc.intuit.com/questions/4124827-how-do-i-connect-with-a-tax-expert-in-turbotax-live

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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