1099 NEC

Forum|Forum|4 years ago
March 31, 2022
2 replies
11 views

I have 1099 NEC income. Last year when I reported this it appeared as income next to 1099 NEC in TurboTax. This year it shows $0 next to the 1099 NEC and then wants to create a business and fill out Schedule C. Does that make sense? Did something change between last year and this year?

ptroyano

Level 2

It says 0 because you have to fill in what your NEC income was. There should be an edit button or something you can go to if you are in the ,walk me through it section, which I recommend. hope that helps

ThomasM125

Level 15

Income reported on a form 1099-NEC for services you provided is considered small business income, so you will need to set up a business in TurboTax to report it. You will have the opportunity to deduct ordinary and necessary expenses associated with the income generated.

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