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pilmex_18
New Member

How do I remove "Self-employment income and expenses" from my income info?

I had a 1099-NEC to enter, which I eventually did, but now it won't stop asking for my "self-employment" business info. I do not own a business.
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2 Replies

How do I remove "Self-employment income and expenses" from my income info?

Sorry but a 1099NEC is for self employment income.   Why did you get the 1099NEC?

 

Yes you are the owner of your own self employment business. You are in business for yourself. Use your own info. The people or company that pays you is your customer or client. You need to fill out schedule C for self employment business income. You are considered to have your own business for it. YOU are the business.

When you are self employed you are in business for yourself and the person or company that pays you is your customer or client.

 

If you have expenses you need to upgrade to the Self Employed version.  You need to pay self employment tax on it.

 

Self Employment tax (Scheduled SE) is automatically generated if a person has $400 or more of net profit from self-employment. You pay 15.3% SE tax on 92.35% of your Net Profit greater than $400. The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare. So you get social security credit for it when you retire. You do get to take off the 50% ER portion of the SE tax as an adjustment on 1040. The SE tax is already included in your tax due or reduced your refund. The SE tax is in addition to your regular income tax on the net profit.

 

IRS information on Self Employment
https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-center

 

Turbo Tax Beginners Tax Guide for the Self Employed
https://turbotax.intuit.com/tax-tips/self-employment-taxes/beginners-tax-guide-for-the-self-employed...

 

AliciaP1
Expert Alumni

How do I remove "Self-employment income and expenses" from my income info?

It depends on why you received the 1099-NEC.  If you do not intend to continue this line of work, meaning this was a one-time event, you can enter your 1099-NEC as other income.  If you intend to teach more lectures at this university, or other places, you are considered an independent contractor and the IRS (not TurboTax) defines that work as self-employed.  To report self-employed income on your tax return, you must file Schedule C.  You are not, however, required to have a name for your business.  You can simply leave the income (and expenses) for the work as shown with your name and social security number.

 

See Am I considered self-employed? for more information and What self-employed expenses can I deduct? in case you are truly self-employed.

 

If you need to delete and re-enter your 1099-NEC you can follow these steps in TurboTax Online:

  1. Within your return, click on Tax Tools in the black menu on the left side of the screen.
  2. Click on Tools.
  3. Click on Delete a Form
  4. Scroll down to your form and click Delete.
  5. Under Federal in the black menu bar click Wages & Income to get back into your tax returns.
  6. Using the magnifying glass icon to search for 1099-NEC
  7. Proceed entering/reviewing your 1099-NEC and remaining documentation
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