Question Re: 1099-NEC

[Jrdndm3]

I work as an independent contractor only with a family friend and their business they have. I have no stake in the business, etc... this is their own. I also do not put forth any money of my own towards the work either, just paid by check every two weeks. Come tax time, I'm sent a 1099-NEC form. 

What I need some better understanding on is, how come I have a Schedule C (Form 1040) called "Profit or Loss Form Business  (Sole Proprietorship). Currently the way I'm seeing it is it's saying I have proprietorship in my friend's business, but that's not at all the case. Or does it mean I, as an independent contractor, that I am the "proprietor" and this is for me since I'm classified and working as an "independent contractor"/administrative assistant to my friend's business. 

Thanks

[AliciaP1]

When you are an independent contractor or freelancer, the IRS (not TurboTax) defines that work as self-employed.  To report self-employed income on your tax return, you must file Schedule C.  You are not, however, required to have a name for your business.  You can simply leave the income (and expenses) for the work as shown with your name and social security number.  You can also deduct eligible expenses to reduce your tax liability.

You can see Am I considered self-employed? and What self-employed expenses can I deduct? for more details to report your Schedule C.

[xmasbaby0]

Some information for you:

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

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

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

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

https://turbotax.intuit.com/tax-tools/calculators/self-employed/