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strider87
New Member

Self Employment Received both1099 and W2

I received 1099-NEC from two employers and W2's from two other employers for the same type of services. I am an independent contractor.  

How do I report all as business income and take the associated benefits as such?

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Accepted Solutions
AliciaP1
Expert Alumni

Self Employment Received both1099 and W2

As an independent contractor, you do not have employers.  Instead, you have clients or customers that pay you for your services.  This income is considered self-employment income and you can report ordinary and necessary business expenses as deductions from it.  See What self-employed expenses can I deduct? for more information. 

 

If the 2 companies that issued you a Form W-2 did in fact withhold taxes including Social Security and Medicare, then you were an employee of these companies and not self-employed.  These need to be entered as W-2s into TurboTax with the tax information as reported on the forms.  You cannot deduct unreimbursed business expenses pertaining to this income.  If they did not withhold Social Security and Medicare taxes from your payments, then the companies issued you the wrong forms and it is their responsibility to correct the errors.  They each would need to void the W-2s you received and issue you a Form 1099-NEC instead.  Then the income would be reported along with the other 1099-NEC income and the ordinary and necessary expenses would be eligible for deductions.

 

You can also see Am I considered self-employed? for additional information.

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1 Reply
AliciaP1
Expert Alumni

Self Employment Received both1099 and W2

As an independent contractor, you do not have employers.  Instead, you have clients or customers that pay you for your services.  This income is considered self-employment income and you can report ordinary and necessary business expenses as deductions from it.  See What self-employed expenses can I deduct? for more information. 

 

If the 2 companies that issued you a Form W-2 did in fact withhold taxes including Social Security and Medicare, then you were an employee of these companies and not self-employed.  These need to be entered as W-2s into TurboTax with the tax information as reported on the forms.  You cannot deduct unreimbursed business expenses pertaining to this income.  If they did not withhold Social Security and Medicare taxes from your payments, then the companies issued you the wrong forms and it is their responsibility to correct the errors.  They each would need to void the W-2s you received and issue you a Form 1099-NEC instead.  Then the income would be reported along with the other 1099-NEC income and the ordinary and necessary expenses would be eligible for deductions.

 

You can also see Am I considered self-employed? for additional information.

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

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