1099-NEC

[marklv]

I have a 1099-NEC.  I work for Company B.  Company B is a sub on a large contract Company A is the prime/lead.  Company A issues an annual management bonus to all managers.  This has always been a 1099-MISC.  This year it is an NEC.  TurboTax puts this in Business Income and Expenses and seems to want to force me to declare myself as an independent consultant (naming my biz ad such) and thus force me to enter a TIN/EIN (but not my SSN).  How do I get around this?

[jmaxwell92264]

Compensation for services that is not W-2 wages should be reported to you on Form 1099-NEC, and such compensation is subject to Self-employment Tax and should usually be reported on Schedule C.  Reporting on 1099-Misc is incorrect if the payments were the result of work you performed.  You may want to contact Company A, but it appears that learned the error of their ways and determined that they should issue 1099-NEC, not 1099-Misc.

[jmaxwell92264]

Further to your question, there is no requirement for you to have an EIN, unless you pay wages to someone else.  An EIN is not required for filing Schedule C; just leave it blank if you don't have one.

[GeorgeM777]

Assuming you are not self-employed, you can report your bonus income as "other income" rather than the type of income that triggers TurboTax to create a Schedule C.  Because it appears you are using TurboTax Home & Business, follow these steps to report your income as other income:

1. Go to Personal
2. Select Personal Income
3. Scroll down the page to Less Common Income
4. Select Miscellaneous Income
5. Select "Yes" when asked if you received other taxable income.
6. Enter the name and amount.

If you are using TurboTax online, the process is essentially the same as the above steps.  

@marklv