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?
02527
2 Replies
ptroyano
New Member
Mar 30, 2022 7:31:15 PM
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
Employee Tax Expert
Mar 30, 2022 8:27:40 PM
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.