My husband received a 1099-Misc Income (2023) form with Box 7 specifying his Nonemployee Compensation amount. The amount is correct ($16K). We're not able to enter this amount into Turbo Tax Home & Business edition because the 1099-MISC Box 7 = N/A (e.g., doesn't allow amount to be input). What is the best way to submit this Nonemployee Compensation amount: 1) Enter the amount in the 1099-NEC Box 1 field (even though we did NOT receive an actual 1099-NEC form) or 2) Enter the amount as General Income, not reported on other forms (even though we DID receive an actual 1099-Misc Income (2023) form?
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If your 1099-MISC has an amount in box 7, you should have gotten a 1099-NEC form instead. You may want to request a 1099-NEC from the payer so you have the right form for your records, but you don’t need it to file your tax return.
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