Hello, as an independent contractor, do I have to file my 1099 NEC quarterly or annually?

[xmasbaby0]

You file a tax return once a year.    You might pay estimated tax on a quarterly basis, but you do not file quarterly tax returns.   Quarterly payments can be mailed or you can pay on the IRS payment site.

If you have self-employment income for which you will pay self-employment tax for Social Security and Medicare,  you will need to use online Premium software or any version of the desktop software download so that you can prepare a Schedule C for your business expenses.

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-nec/1099-nec/L5qTsBiSe_US_en_U...

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

https://blog.turbotax.intuit.com/self-employed/self-employed-tax-deductions-

calculator-2021-2022-50907/

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

If you live in a state with a state income tax, you might need to make estimated payments to your state.

https://turbotax.intuit.com/tax-tools/calculators/self-employed/

https://ttlc.intuit.com/community/business-taxes/discussion/self-employed-don-t-miss-these-tax-moves...

[rjs]

You only get one 1099-NEC each year, at the end of the year. It shows the amount that you were paid for the entire year. You enter it in the tax return that you file at the end of the year.

In order to decide how much to pay for each quarterly estimated tax payment, you will have to estimate how much income will be on the 1099-NEC that you get at the end of the year.

[TomD8]

Just to be a nitpicker, you should receive a 1099-NEC from each client for whom you provided $600 or more of your services during the tax year.

[VolvoGirl]

Do you pay anyone like helpers, sub contractors or employees?  You might need to issue them a 1099NEC.

You need to give a 1099NEC (previous a 1099Misc) to anyone you paid $600 or more to for the year. But not to corporations or for merchandise. You send the IRS a copy of the 1099NEC with the transmittal summary form 1096. These are due to the person by Jan 31 and to the IRS by Jan 31 also.

You don’t file the 1099NEC quarterly, it just goes on your 1040 annual return on Schedule C.   You may need to send in quarterly estimated payments on form 1040ES to cover any self employment tax and increase in income.

You must make quarterly estimated tax payments for the current tax year if both of the following apply:

- 1. You expect to owe at least $1,000 in tax for the current tax year, after subtracting your withholding and credits.

- 2. You expect your withholding and credits to be less than the smaller of:

    90% of the tax to be shown on your current year’s tax return, or

  100% of the tax shown on your prior year’s tax return. (Your prior year tax return must cover all 12 months).