I have issued multiple 1099NEC's for my healthcare (private aids). Besides giving them a 1099NEC and E-Filed them to the IRS, do I need to do anything else on my1040 individual tax return ?
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If you are not in the business of paying private aids for services rendered to other people, you did not need to file the 1099-NECs. If you do not have a business, these expenses are not deductible to you in full. If the aids were providing care to you or a household family member, you can include the costs in calculating the medical expenses deduction on Schedule A.
To enter medical expenses in TurboTax Online you can follow these steps:
Why did you issue 1099s for private services? From the IRS:
Trade or business reporting only.
Report on Form 1099-NEC only when payments are made in the course of your trade or business. Personal payments are not reportable. You are engaged in a trade or business if you operate for gain or profit.
Hi ! We were advised by an accountant a while ago to issue 1099NEC and to E-File it.
So at this point, what do I do ? Does anything need to be entered on my 1040 regarding this ?
Thanks
If you are not in the business of paying private aids for services rendered to other people, you did not need to file the 1099-NECs. If you do not have a business, these expenses are not deductible to you in full. If the aids were providing care to you or a household family member, you can include the costs in calculating the medical expenses deduction on Schedule A.
To enter medical expenses in TurboTax Online you can follow these steps:
Thank you both for helping me out !
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