How to enter 1099-NEC

CMITCHE · ‎February 15, 2025

I worked for my sister, who issued a 1099-NEC. I’m selecting, Self-employed but, it keeps putting my address as the business address even tho I inputted her TIN. Plus the questions keep asking about “my business” I don’t have one. So, I’m confused on how to go forward.

AnnetteB6 · ‎February 15, 2025

If you performed work for your sister's business and she reported your earnings on Form 1099-NEC, then she considered you to be an independent contractor and not her employee. This means that in the eyes of the IRS, you are self-employed and have your own business reported on Schedule C.

That means that you would enter your own address as the address for your business. You would not enter her address or her TIN except for when it is entered on the Form 1099-NEC screen.

When you are entering the information for your business, think about what kind of work you did for your sister's company and what you would consider it to be if you had worked for any company doing that same kind of work. For example, if you were doing bookkeeping, then your business would be a bookkeeping business.

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VolvoGirl · ‎February 15, 2025

Yes you are the owner of your own self employment business. You are in business for yourself. Use your own info. The people or company that pays you is your customer or client. You are considered to have your own business for it. YOU are the business.

You need to fill out schedule C for self employment business income and pay self employment tax in addition to regular income tax on it. The SE tax is to pay Social Security and Medicare tax that wasn't taken out like on a W2.

You use your own name and ssn or business name and EIN if you have one. You should say you use the Cash Accounting Method and all income is at risk. After you put in your income and expenses if your net profit is $400 or more you will pay 15.3% for Self Employment tax in addition to your regular income tax. The Schedule SE will be automatically filled out for it.

You can enter Self Employment Income into Online Deluxe but if you have any expenses you will have to upgrade to the Premium version. Or use any of the Desktop installed programs. All the Desktop programs have the same forms. You just get more help and guidance in the higher versions.

How to enter income from Self Employment

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...