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rmdd
Returning Member

1099 Nec

I received a 1099-NEC from a vendor of the company I work for, the 1099-NEC was for a trip I won.  When I enter it in Turbo Tax it eventually takes me to schedule C where it treats me as if I'm self employed and requires me to even put a code in for the type of business I have.  This doesn't make sense.

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2 Replies

1099 Nec

When you are entering the Form 1099-NEC you need to indicate that this was not an intent to earn money nor was it income from your current employer.  Follow the screens carefully and the income will be entered on your tax return as ordinary income and Not self-employment income.

 

To enter a Form 1099-NEC that is not for self-employment -

Click on Federal (Personal using Home & Business)
Click on Wages & Income (Personal Income using Home & Business)
Scroll down to Other Common Income 
On Form 1099-NEC, click the start or update button

 

DawnC
Employee Tax Expert

1099 Nec

Generally, income received on From 1099-NEC is considered self-employment.   You may wish to get a corrected form from your employer, as that form went to the IRS.   However, if you mark the box that says This is not Self-Employment income in TurboTax, the income will go to Other Income and you won't be asked to file Schedule C.    After you enter the 1099-NEC, you get the following screen.   Mark the appropriate box, and TurboTax will forgo the business schedule.   

 

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