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td01011957
Returning Member

1099-nec

Entered a 1099-nec.  the 1099-NEC comes up as "0" and the business income and expenses comes up with the amount entered in the 1099-NEC.  All of my expenses are then ignored, and it forces the standard deduction.

 

WHY????

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1 Reply
LinaJ2020
Expert Alumni

1099-nec

You will need to enter the information in both Form 1099-NEC and Schedule C sections.  You would start from the 1099-NEC section under "1099-MISC and Other Common Income".  You would then follow prompts to tell the program you are filing a Schedule C.  As it creates a Schedule C for you, you will need to go to the Schedule C portion separately to confirm your income amount, add related expenses and complete required information. 

 

In TurboTax online, here are the steps: 

  • Sign into your account, select Pick up where you left off
  • From the upper right menu, select Search and type in 1099nec and Enter
  • Select the Jump to 1099nec
  • Follow prompts to complete the section

Then 

  • From the upper right menu, select Search and type in schedule c and Enter
  • Select the Jump to schedule c
  • Next screen, "Your 2020 work summary" under your self employed business, select Review
  • Continue to enter related expenses and other required information
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