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posted Jan 29, 2021 2:43:53 PM

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.

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1 Best answer
Expert Alumni
Jan 29, 2021 3:05:37 PM

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.  

 

1 Replies
Expert Alumni
Jan 29, 2021 3:05:37 PM

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.