Tax Year Prior to 2020: 1099-MISC - Schedule C

[MayaD]

You need to choose the accounting method under Self employment . The most common method is the Cash Method- reporting income in the year actually received it and reporting expenses in the year actually paid.

To choose the accounting method;

1. Log in to your account.
2. Go to Federal Taxes.
3. Go to Wages and Income.
4. Go to Self employment Income and Expenses and click review.
5. Click Edit next to your line of work .
6. Select Edit next to the General Info
7. Scroll down to Tax Detail and click Edit under Accounting Method.

[VolvoGirl]

By the way you are entering this info to fill out the Schedule C.   Your schedule C doesn't have this.

[MilesFrasier]

I do contract work for a local television station and I entered my income via a 1099-MISC. However, the schedule C is asking me to provide information from a W-2 which I did not and should not receive. The program keeps sending me back to the Schedule C for "correction." How do a I deal with this?

[VolvoGirl]

What exactly is it asking?  I don't know why Schedule C needs any info about W2.  Did you get any W2s?  If you got one with box 13 checked that does go on Schedule C.  Maybe you said you issued a W2 to someone?

[chabos]

I don't think this is true all the time. If you own certain ETNs they will send you a 1099-MISC. If you file Sch C in three years your city may declare you a delinquent business owner with didn't pay for a business license and hit you with fines, fees and retroactive business licenses for your non-existent business enterprise. I went through this last month with San Jose.

Turbo Tax can file the income as "other income" directly on your 1040 if you answer the questions correctly but TT tries to guide you to file a Schedule C. Save your work before you work on the 1099-MISC and try entering "other income". If it creates Sch C exit without saving and start over. Maybe an Employee expert can tell us how to do this right the first time. I did it last night but don't remember how now. 

[MrRoss]

So what would should I enter when it asks for a "valid 6 digit business activity code ?

[MayaD]

The six digit code corresponds to the type of work you perform. For a list of codes, please visit the IRS website pages 17 and 18.

[smithjaredb]

My wife and I are both teachers, and both received 1099-MISC from a company for tutoring. I do not want any deductions for this, but each time I input  the information into the 1099-MISC section, the program claims a $1 deduction as a Qualified Business Income. How should I input it to not have this deduction?

[AmyC]

@smithjaredb The IRS says you are to take all deductions to which you are entitled. You are entitled to the QBI deduction and you will take it. It shows in the program on your business. In reality, it does not go on the business form, it goes on the 1040, line 10.

[MarciaOflag]

I just upgraded to Home & Business from Premier.  It won't let me add business expenses, Sched C, nor SE health insurance (although this version did in prior years).

My husband gets a 1099MISC and the only expenses he has are some training, business mileage, and health insurance which we pay for.  In prior years, we could input this from home & bus version.   That's why I didn't purchase Self Employed version this year,  also bc he doesn't have all the expenses many SE people do.  This year (purchased online upgrade) won't allow that.

[VolvoGirl]

You upgraded the Desktop installed program to Home & Business?  I have it and it is the same as last year and before.  What is different?  You have the Business menu tab at the top?  Did you try updating the program?  Did you reboot your computer after upgrading?  

Maybe it didn't finishing installing?  Contact Customer Service
5am-9pm Pacific Time Monday - Sunday
https://support.turbotax.intuit.com/contact/

What is the Turbo Tax phone number
https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632

[Jkrosebury]

I received a 1099 misc. But according to my deposits, I received more then what is reported on the 1099. How do I handle this?

[VolvoGirl]

Enter the difference as Cash or General income.  You should be reporting all your income from your own records anyway. You can even just enter the grand total for all under Cash and not enter the actual 1099Misc.  Only the total goes to Schedule C.

[josephjr48]

Thank you, Best answer

[Delacruz6191]

I was working for Door Dash and received a 1099-MISC. I filled out everything correctly and it's asking me to fill out the schedule C portion. Iv'e tried everything and nothing seems to work. Help please.