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This year i have reported my spouse Hobby income, is that triggering 1099-NEC? She sells on Etsy her hobby made items where we don't have any EIN - so what should this form contains?
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I don't understand the question. Did she get a 1099-NEC? Is the program asking you to enter a 1099-NEC?
To enter hobby income in TurboTax please follow these steps:
Prior to 2018, hobby expenses were deductible as itemized deductions on Schedule A. Deductible hobby expenses were limited to the amount of hobby income as a hobby could not create a loss and reduce your taxable income. TurboTax asks this information in case the law changes and allows the deduction again. Entering your expenses does not reduce your tax under current tax law.
Thank you for your answer. Can you clarify why 1099-nec get trigger ? I am unable to understand why it is asking me to fill 1099-NEC
No. Without being able to see your entries, there is no way to predict what you clicked to make that happen.
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