Trying to do my son's taxes. He worked for the college he is attending and he received a W-2 for that work. He also participated in a summer internship last summer for the same university (same Employer Identification No.) and was sent a 1099-NEC reporting money that was given to interns as "A $70.00 per week food reimbursement". A few weeks later he was sent a corrected 1099-NEC with box 1- nonemployee compensation listed as $0, as he shouldn't have been sent one in the first place. My question is if I report that he received the 1099-NEC and list the compensation as zero TurboTax is asking me all kinds of questions regarding his "business", Schedule C, etc. Do I need to put the 1099-NEC in his taxes. How do I answer questions regarding his "business" which doesn't exist? Help!
You'll need to sign in or create an account to connect with an expert.
Since the corrected form shows zero income you can ignore it. The IRS will receive the same corrected form.
No
since the corrected 1099-NEC shows no income, don't enter ether one.
The school have to file the corrected one so that the IRS would not look for the first one that was issued.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
tjp99120
New Member
Sadiehoffman7
New Member
iahildreth27-gma
New Member
tbduvall
Level 4
genedoc
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.