1099-NEC replaces 1099-MISC box 7 for non-employee compensation for 2020. Where do you input 1099-NEC info in TurboTax. I can't find it.

[macuser_22]

You will have to wait for the updates for Schedule C for business income in January.   Those new forms have not been updated yet.

[VolvoGirl · Accepted solution]

In the Desktop program you can switch to Forms Mode and open a 1099NEC and fill it out.  It will populate your return.  It will show up on the business income page on the 1099Misc line.   That will probably be fixed when they update that part of the program.  

If you have the Online version or even in the Desktop program just enter your total business income as Cash or General.  You don't need to enter the actual 1099Misc or 1099NEC.  Only the total goes to schedule C line 1.

[markntx]

Thank you for your help.  Makes sense.  Doing my taxes on 1/1 is pretty early.  LOL.

Thanks.

Mark

[markntx]

I appreciate your help.  Didn't think about forms and adding a 1099-NEC.  Makes good sense.  Interesting that they didn't have with walk through updated to reflect 1099-NEC replacing 1099-MISC for box 7.  I guess it will come in time.  

Thanks.

Mark

[Critter-3]

If you are filing a Sch C then the income section has that form just like prior years ... see online program screen shot here :  

[Critter-3]

And FYI ... you ONLY have to enter your total annual income in the Sch C income section and you can use the Other SE  Income line and make ONE entry.  That is all the IRS gets on the Sch C is ONE amount.  All the entering in of all the 1099 and other income sources is for YOUR use only and if you have good bookkeeping records this individual listing  is a total waste of time.  None of what you enter in the program will be good if you are ever audited as the IRS will only accept your bookkeeping records with statements/receipts to back those figures up. 

[markntx]

Thanks for your help.  I am using desktop version, not online version, and it's not updated yet for 1099-NEC.  That's why it was confusing to me.  Thanks for your help.

Mark

[Critter-3]

Ok.... but as I said you can skip entering those if you get them for your business.   What you enter into the program does NOT go to the IRS ... they get a copy from the issuer.  

[gdubbz]

I'd have to disagree with you Critter. You may only "HAVE TO" enter one amount somewhere, however, unless you are a tax preparer or expert with Turbotax, most folks should just utilize the step-by-step process and walk thru the questions and provide the answers - regardless of whether the IRS gets the info or not. We realize that a lot of the info just populates worksheets and such but when doing my returns, I find it very helpful to be able to go back and see what/how I entered things last year in order to remain as consistent as I can. Actually, I keep open last year's version of Turbotax and this year's at the same time on two different screens and walk thru the step-by-step processes. Makes life so much easier and my returns more consistent and hopefully, lessen the raising of flags for auditing.