When I started entering information into TT for 2020 a few months ago, there was an issue with the 1099-NEC not working correctly. So, I entered my 1099-NEC amount in the 1099-MISC in the Business section for the time being.
Now, it appears that the 1099-NEC issue may be resolved. My question is - should I delete the 1099-NEC amount from the Business section that I entered under 1099-MISC and then re-enter it under Personal - Other Common Income - 1099-NEC? My concern is that everything I entered under the Business section (i.e. expenses, etc.) will be erased if I delete that 1099-MISC amount first. Thanks.
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As long as you have entered the amount reported on the Form 1099-NEC as income subject to self-employment tax, you do not need to delete what you have entered and re-enter the Form 1099-NEC just because it was reported on a 1099-NEC.
Just to clarify, you're saying that I can leave my 1099-NEC info in the 1099-MISC area that I originally entered it and make no changes? Thanks again.
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