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Level 2

Question

1099-NEC Question

Forum|Forum|5 years ago
December 29, 2020
1 reply
16 views

I will have one amount reported on my 1099-NEC but this amount included reimbursements for monthly software expenses. How can I show the difference of money for reimbursement and money for compensation for services provided?

Level 15

When you fill out schedule C for your self employment you enter the gross amount on the 1099NEC and then you separately enter the software expense which will give you the Net Profit. You will need to use the Online Self Employed version or any of the Desktop CD/Download programs to enter self employment income and expenses.

Level 2

Thank you...if this is only something that I did two times last year, do I still need to fill out a schedule C? This is not my job- just something that I did a few times to make a little extra money. I don't have a tax ID or anything like that...

Level 15

Yes ... you fill in a Sch C if you have SE income and expenses to report against it.