Can I delete everything I've entered and start over?

[erico]

I had worked a one-off job and was sent a 1099-NEC, but I entered the income incorrectly and now I apparently am running a successful consulting business. The IRS website says I should enter this income on Schedule 1, Line 8j "Activity not engaged in for profit income." Can I just delete everything and start over?

[LeticiaF1]

Form 1099-NEC is used to report Nonemployee Compensation, this income is considered self-employment.  If you are doing this work with the intend to make a profit then you would report this as self-employment income on Schedule C.  You can claim any expenses that were related to this income.  

To enter your Form 1099-NEC in TurboTax:

1. Sign in and open or continue your return.
2. Search for 1099-NEC and select the Jump to link.
3. Answer the questions and continue through to enter the information from your form.
   • If you have multiple 1099-NECs to enter, you can select +Add Another 1099-NEC on the 1099-NEC Summary screen.

When you’re done, we’ll ask you a few questions and help you through entering any expenses you may have so that you can reduce your taxable income.

What's a 1099-NEC?

Here’s how to tell the difference between a hobby and a business for tax purposes

How do I report income from self-employment?

When the IRS Classifies Your Business as a Hobby