Form 1099-NEC form

[wcheuk6096]

The item "Income from Form 1099-NEC" is not found in the Personal->Personal Income->Other Common Income subsection. I can only see "Income from Form 1099-MISC" for 2019 and 2020, which is obsolete for 2020. I think you forgot to add the NEC entry to this subsection.

In the Business section, I create new 1099-NEC for my business income since 1099-MISC is no longer used for this purpose by IRS. However, the new form is not shown in the "Other Common Income" section. There, I only see "Income from Form 1099-MISC". Becuase of this, TT thinks I have zero income, hence not allowing me to make contribution to Traditional IRA for my retirement.

[dmertz]

This does appear to be something that has been corrected in other versions of 2020 TurboTax but not yet in TurboTax Home & Business.  You can switch to forms mode, open a Form 1099-NEC Worksheet and make your entries directly on the worksheet.  Make sure that you link it to the correct Schedule C or Schedule F, otherwise it will be treated as Other Income rather than as income from self-employment.

[Critter-3]

OR >>> skip the nec income entry  altogether and just enter your total annual income in the section for cash/check/1099K ... the entering of all the separate 1099-NEC forms is for YOUR use ONLY as the IRS only gets a total on the Sch C form. 

[wcheuk6096]

I knew how to fix the problem but was pointing out the issue where the data entered in the Business section of TT was not propagating into the Personal section. For example I created a new form 1099-NEC for my business income and entered the income amount. So far so good. Later when I navigate to the Personal section and reported IRA contribution, TT told me I cannot contribute anything because my income was zero, which is wrong. This leads to think the current version of TT is using information from the 1099-MISC form, not from 1099-NEC. I am very disappointed TT releases half-baked software which leads to many issue. Think about 1099-NEC is probably a major component in the Home and Business version and it is not there?

[Critter-3]

The program still has many updates to go before it is fully functional ... this is always the way it goes every tax year and new things are always glitchy.  

And why do they put out incomplete programs ???  For 2 simple reasons ... first to capture market share just like all the other tax programs are doing.  That is why they put out a beta version in November.   And secondly ... because the users demand that the program be put out even if it is not fully functional but they are even willing to pay for the right to use this beta version.   FYI ... Not even my professional program is fully functional yet due to the last minute changes that congress passed at the last minute.   

[Critter-3]

According to the availability chart (also reflected in the Federal Review tab in the Personal section of your program) the Sch C is not expected to be functional until 1/14  at the earliest.  

https://ttlc.intuit.com/community/forms/help/irs-forms-availability-table-for-turbotax-individual-pe...