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Level 1
posted Apr 14, 2022 7:21:10 AM

On the "Your 2021 self-employed work summary" page: Does the 2021 amount for each "line of work" include the deductions for expenses? (The amount does not match 1099-NEC)

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1 Best answer
Expert Alumni
Apr 14, 2022 7:55:52 AM

"Your 2021 self-employed work summary" reflects your net profit.  That will be all of the income less all of your expenses.  It is probable that it will not match your 1099-NEC.

2 Replies
Expert Alumni
Apr 14, 2022 7:55:52 AM

"Your 2021 self-employed work summary" reflects your net profit.  That will be all of the income less all of your expenses.  It is probable that it will not match your 1099-NEC.

Level 1
Apr 18, 2022 7:12:07 AM

Thank you!!!!