On the Business Income screen it gives you the option to enter 1099-NEC, 1099-MISC, General Income, Other Income and Money You Gave Back. When I select Update 1099-NEC it gives me the option to select the 1099 Payer from 2019, which I what I want to do, but then it immediately takes me back to the Business Income Screen, there's no place to enter the data. If I select 1099-MISC I can enter the data, but my 1099 definitely says NEC. Not sure how to proceed
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No. You cannot enter your 1099-NEC as 1099-MISC.
If you had self-employment income from a 1099-MISC in the prior year, it would have been carried over to this year's return as a 1099-NEC. For 2020, nonemployee compensation on the prior year Form 1099-MISC is now reported on Form 1099-NEC.
To enter your 1099-NEC, please follow the steps below:
To confirm your 1099-NEC was linked to your Schedule C, please follow the instructions below:
If you are doing 1099-'s for 2019, 1099-misc should be used. 1099-NEC is a new from in 2020.
Thanks for the detailed reply, but it doesn't address my problem. When I select Update on the 1099-NEC line item it takes to a screen where I can add, edit or select a 1099-NEC. It is auto-populated with the 1099 payer from 2019 so I select that and hit continue but then it just takes me back to the main Business Income Screen (where you select 1099 NEC, 1099 MISC, etc). It doesn't give me the option of entering any data at all. NEVER MIND, JUST FIGURED IT OUT : )
@zapnit I am having this exact same issue -- what did you have to do to resolve?!
WOW - nevermind -- I just took another look and realized it myself!!
Wait how did you guys figure out? I am having the same issue on the 1099-NEC form. I cannot enter my expenses.
You can enter 1099NEC or cash Self Employment Income into Online Deluxe or Premier but if you have any expenses you will have to upgrade to the Self Employed version.
How to enter self employment expenses
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