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Anonymous

Question

1099-NEC?

Forum|Forum|5 years ago
November 22, 2020
6 replies
50 views

Where in Turbotax H&B desktop does one enter 1099-NEC?

Business income page shows only 1099-MISC.

Or is the product still out of date?

TurboTax Online

Anonymous

this is a new IRS form. currently there is no way to enter it. you'll have to wait for TT update. when you ask. TT has not announced the date as yet.

Anonymous

That's just great. Taxcut has it in ther program now (but they've got other issues, unfortunately).

Critter-3

Level 15

Turbotax is an incomplete program and it will not be fully operational until sometime in January or February for some things like states. The program will undergo weekly updates as they complete sections ... this happens every year without exception.

ANY tax software released by any company prior to about January 15 is only released for marketing and market share. No program is complete and ready to file until the IRS approves their final forms and then individually reviews each program's implementation of the form. And some tax situations aren't able to be filed until February or March, again mostly due to IRS delays.

NOW ... can I give you a hint ... you NEVER need to enter in the 1099 in the Sch C section at all ... the program does this for your use only since the IRS only gets a total of your income on the Sch C not all the 1099 info you enter. Skip that screen and use the next one ...

auc476

Level 2

TT Home & Business won't import all of my previous years' 1099s either. I had 15 or so, and I need to keep 10 of them. I do NOT want to re-enter them all over again! And will the program recognize that they're now 1099-NEC instead of 1099-MISC? I have a horrible feeling it won't.

VolvoGirl

Level 15

1099NEC you receive or ones you need to issue? I just installed my Home & Business program and it let me transfer 2019 1099Misc into the 1099NEC form to give to my sub contractor.

Nzi95002

Level 2

1099-NECs you receive. It doesn't roll the information over from previous year's 1099. In actually it looks like you have to create your business all over again.

PattiF

Level 15

Yes, you will find the form in Forms Mode.

Click the Open Form button on the upper left side of the screen and then type "1099" in the search box. You should see a list of forms including the 1099-NEC Worksheet.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

John H3

Level 2

My 1099 NEC keeps getting flagged in my federal review. It then takes me to a Sched. C box that's empty and it says "double click...". Everything in my taxes is correct, but it won't get me pass this review. Turbo Taxes system is not prepared for the new 1099 NECs. Please advise on how to get around this or let me know when it's fixed.

DawnC

Level 15

Some TurboTax Online customers are getting the error below when attempting to link their Form 1099-NEC. If you are experiencing this issue, please sign up here for email updates as we are working on the issue. You will be notified by email when it has been resolved. @John H3

Check This Entry

Form 1099-NEC Worksheet (XXXXX): A link to Schedule C or another form is something we need to get your info in the right place.

The 1099-NEC is new this year - it replaces the 1099-MISC-Box 7 forms. All of the entries for the 1099-NEC are new in all software.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

KathrynG3

Level 14

Enter Form 1099-NEC for work performed and re-imbursement for travel expenses in your self-employment income & expenses section.

To go there in TurboTax, follow these steps:

From the left menu, select Federal, which will open to Income & Expenses.
Scroll down to Self-employed income & expenses and Start/Edit/Add
Add income for this line of work
Select Form 1099-NEC, new IRS form for nonemployee compensation (replaces 1099-MISC)* and Continue
Enter the form exactly as you received it
Enter travel expenses in the expenses section to offset the income.

For an overview to this new form, see What is Form-NEC?

*Alternatively, it is allowable to enter Form 1099-NEC in the Other self-employed income, includes 1099-K, cash, and checks section.

When prompted for Type of income, include Form 1099-NEC, EIN, and Business Name of the Issuer.

John H3

Level 2

Kathryn,

This does not work. When you enter the NEC-1099 information it prompts you to a review that asks you to "double click" in a schedule c line. I've done (along with many others) what you have suggested tens of times, but it's still being flagged. If you're connected with TurboTax employees, please advise when they have an actual solution to their software.

EdRN

Level 2

That happened to me. What it happened was that I had entered it twice, so the system was asking me to link it to make sure it was the right amount. Please make sure you only entered one.

Now, I have the problem that I cannot e-file my taxes, because one of the forms can't be filed.

muffymary

Level 2

Today I worked with a turbo tax specialist who was assisting me in negating a 1099 NEC and replacing it with. 1099 MISC. The income total was doubled on the income listed. How do I fix this?

DianeW777

Level 15

The Form 1099-NEC is used to report self employment, or independent contractor payments. If you did not earn this money, then you can delete the entry by using the following steps.

Sign into your TurboTax account > Select Search (upper right) > Type 1099-nec > Enter > Click the Jump to ... link
Click on the Delete button next to the trash can > Your 1099-NEC has been removed from your return
See image below

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

winnersneverquip

Level 2

I am using TT Premier and it allows 1099-NECs to be entered but the results do not show up on the step-by-step summary page. The information is loaded in the forms, however. Hope they can fix this.

CatinaT1

Level 15

You will need to also file a Schedule C for self-employment.  This is where that income will flow to. You may also enter any expenses related to your work to reduce your income.

To file a Schedule C, here are the steps: