1099-NEC w/o additional issue. Net Profit was $20 USD and it was a job/hobby for my wife. How can I get rid of the 'needs review'?

[PatriciaV]

Please clarify what you need to enter in TurboTax for Desktop. Was this Form 1099-NEC related to self-employment or was it hobby income?

@sr3333 

[sr3333]

I was referring to how do I enter the suggested steps by Georgem777 in TurboTax desktop version

[JamesG1]

In TurboTax Desktop Premier, follow these steps:

• Select Federal Taxes across the top of the screen.
• Select Wages & Income across the top of the screen.
• Select I'll chose what I work on.
• Scroll down to Less Common Income.
• Select Start/Update to the right of Miscellaneous Income, 1099-A, 1099-C.
• Select Start/Update to the right of Other reportable income.

The income is reported on Schedule 1 line 8z.

The income is reported on IRS form 1040 line 8.

@sr3333 

[sr3333]

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@JamesG1 wrote:

In TurboTax Desktop Premier, follow these steps:

• Select Federal Taxes across the top of the screen.
• Select Wages & Income across the top of the screen.
• Select I'll chose what I work on.
• Scroll down to Less Common Income.
• Select Start/Update to the right of Miscellaneous Income, 1099-A, 1099-C.
• Select Start/Update to the right of Other reportable income.

The income is reported on Schedule 1 line 8z.

The income is reported on IRS form 1040 line 8.

@sr3333 

---

@JamesG1 

when i do this do i pay Self employment Taxes? how are the taxes calculated?

[DianeW777]

No, self employment tax will not be included when you report this income as 'Other reportable income' on the tax return.  It's important to have clear understanding as to whether this is self employment or not.  The thread here lays it  out clearly in various answers/posts.

@sr3333