1099-nec

Forum|Forum|5 years ago
March 11, 2021
1 reply
3 views

Have a 1099-NEC form.

Boxes 1,2,4,5,6 and 7 are blank and box 3 has the amount earned for the year.

When trying to input in to turbo, I only have the option to put amounts in to boxes 1...4..... And 7

Box 3 doesn't exist and I see no way to make it appear.

I'm presuming that the amount earned was placed in box 3 for a reason. But does it actually matter?

Should I enter the amount from box 3 into box 1 and just move on with my life?

rjs

Level 15

It sounds like the form that you have is not a 1099-NEC. Box 3 is not used on a 1099-NEC. That's why there's no box 3 in TurboTax. Does your form actually say 1099-NEC on it? Or is it perhaps a 1099-MISC, which does have a box 3? If it's a 1099-MISC, enter it in TurboTax as a 1099-MISC, not a 1099-NEC.

What is the form for? Where is the income from? Why did you get the income?

XrayvisionzAuthor

Level 2

Yes ... 1099-NEC

2020 OMB No. 1545-0116

Boxes 2 and 3 are gray.

And box 3 has the amount paid.

X-ray tech working for a surgery center as a side job. Basically pay her as an independent contractor. "Green" check we used to call it. No taxes taken out.

Had both an NEC and a 1099-MISC last year, but only the NEC this year.

"You get to keep more of your money if it's reported in Box 3 of the 2020 1099-MISC form because it's not subject to FICA taxes, which are the combination of Social Security and Medicare—also referred to as “self-employment taxes” for independent contractors"

Copied the above from thebalance.com