turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

lat-24153
New Member

Hi! Why is a 1099-NEC for approximately $2,000, costing me almost $800 of my refund?

It's Amazon Vine, BTW
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
MarilynG1
Expert Alumni

Hi! Why is a 1099-NEC for approximately $2,000, costing me almost $800 of my refund?

Since your 1099-NEC does not have Federal Tax withheld, you will owe tax on this income.

 

Be sure that in reporting your 1099-NEC income as Self-Employment Income, you don't forget to claim expenses against this income.  

 

Type 'Schedule C' in the Search area, then click on 'Jump to schedule c' to get to this section. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies