Typically, if you do not receive a W-2 that's because you're considered to be self-employed as far as the IRS is concerned. If the amount paid to you by any one entity was less than $600 for the entire tax year, then they are not required to issue you a 1099-NEC. But you are still required to report the income if it is more than $400.
So do you know for a fact if you were a W-2 employee or hired as an independent contractor? I'm suspecting the latter.
If you are new to being self employed, are not incorporated or in a partnership and are acting as your own bookkeeper and tax preparer you need to get educated ....
If you have net self employment income of $400 or more you have to file a schedule C in your personal 1040 return for self employment business income. You may get a 1099-NEC for some of your income but you need to report all your income. So you need to keep your own good records. Here is some reading material……
IRS information on Self Employment….
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employed-Individuals-Tax-Center
Publication 334, Tax Guide for Small Business
http://www.irs.gov/pub/irs-pdf/p334.pdf
Publication 535 Business Expenses
http://www.irs.gov/pub/irs-pdf/p535.pdf
Home Office Expenses … Business Use of the Home
https://www.irs.gov/businesses/small-businesses-self-employed/home-office-deduction
https://www.irs.gov/pub/irs-pdf/p587.pdf
Publication 463 Travel, Gift, and Car Expenses
https://www.irs.gov/pub/irs-pdf/p463.pdf
Publication 946 … Depreciation
https://www.irs.gov/pub/irs-pdf/p946.pdf
The IRS considers undocumented cash income (no W-2 or 1099-NEC), for work performed, to be self employment income. You report the income from your own records. Enter at "Business Income & Expenses" and TurboTax (TT) will complete Schedule C for you and allow you to deduct any expenses associated with this income. You'll also have to pay self employment tax (social security & medicare tax) on any profits greater than $432.
You may have to upgrade to the Self Employment version of TT. If you have no expenses to deduct, There's a chance you may be able to use TT Deluxe or Premier. Enter your income at the 1099-NEC screen (even if you didn't get a 1099-NEC). You do not need the payer's ("employer's") Employer ID Number (EIN).
In TurboTax (TT), enter at:
- Federal Taxes tab
- Wages & Income
Scroll down to:
- 1099-MISC and Other Common Income
-Income from Form 1099-NEC
When asked why you got the 1099-NEC, select “Freelancer or Independent contractor”