When entering 1099-Misc data into Turbo Tax, Turbo Tax form says that line 7 is "NA" (not applicable.) However, on my 1099 Misc form received from a company, line 7 says "nonemployee compensation" and is exactly where they placed the amount of money paid to me. What's up?
For 2020, nonemployee compensation on the prior year Form 1099-MISC is now reported on Form 1099-NEC. Therefore, there is no nonemployee compensation in Box 7 on a 2020 1099-MISC. Please confirm that you are looking at your form for the correct year.
I am in TurboTax Deluxe MAC 2021, and I am being shown a form 1099-MISC, not a 1099-NEC like last year. What's the deal???
There is still a form 1099-MISC, but it is used to report Rents and Royalties for the most part, not self-employment income. Maybe you are in the Rental section in TurboTax, not the self-employment income section.