1843672
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

If my self employment income is less than $600 and I will not receive a 1099-NEC, where should this income be documented?

In prior years, I received 1099-MISC for contractor work to document income from a network marketing business. In 2020, that income is less than $600 so the company will not provide at 1099-NEC.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
DawnC
Expert Alumni

If my self employment income is less than $600 and I will not receive a 1099-NEC, where should this income be documented?

You don't need it to report your self-employment income. 

  1. Open your return and type Schedule C in the Search box.
  2. Select the Jump to link. This will take you to where you can enter any cash, personal checks, credit card payments, or cryptocurrency (Form 1099-K) related to your self-employment.  You may first be asked some general questions about your business if your business did not carry over from last year.
  3. After you answer them, you’ll be taken to the Let's enter the income for your work screen.
  4. Select Other self-employed income and provide all necessary information.  

All self-employment income is taxed the same so it does not matter what category it is reported in.   The ''other'' category skips having to enter all of the ''form'' details.  

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
DawnC
Expert Alumni

If my self employment income is less than $600 and I will not receive a 1099-NEC, where should this income be documented?

You don't need it to report your self-employment income. 

  1. Open your return and type Schedule C in the Search box.
  2. Select the Jump to link. This will take you to where you can enter any cash, personal checks, credit card payments, or cryptocurrency (Form 1099-K) related to your self-employment.  You may first be asked some general questions about your business if your business did not carry over from last year.
  3. After you answer them, you’ll be taken to the Let's enter the income for your work screen.
  4. Select Other self-employed income and provide all necessary information.  

All self-employment income is taxed the same so it does not matter what category it is reported in.   The ''other'' category skips having to enter all of the ''form'' details.  

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question