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New Member
posted Feb 26, 2023 12:53:13 PM

Recording of 1099NEC

Hi.

I'm a small business owner (Schedule C.) Where do I record the amount of money from a 1099NEC that I gave to someone on my tax return? On my Schedule C, it only asked if I gave someone a 1099. Where is the dollar amount recorded? 

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1 Replies
Expert Alumni
Feb 26, 2023 1:07:04 PM

The IRS form 1099-NEC's that you created represent expenses recorded against your self-employment income reported on Schedule C form 1040.

 

As an example, you may have created one 1099-NEC for $1,000 for a plumbing contractor and a second 1099-NEC for $1,000 for an electrical contractor.

 

The $2,000 in expenses may be recorded under Repairs on your Schedule C form 1040.

 

@Gregory25