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cpertelle
New Member

How do I switch from W2 to 1099 I'm already in the system

 
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4 Replies

How do I switch from W2 to 1099 I'm already in the system

What exactly are you asking? What do you mean "switch"? Did you enter a W2 when you should have entered a 1099?

 

VictoriaD75
Employee Tax Expert

How do I switch from W2 to 1099 I'm already in the system

If you received more than $600, you should be issued a 1099-MISC. If not, you will not receive the document, but you still need to report the income. Please note, this will require you to pay self-employment taxes, which are Social Security and Medicare taxes, on this income.

 

Follow these steps if you have a 1099-MISC:

  • Under the Federal menu, click on Wages & Income
  • Expand the menu for Other Common Income
  • Click Start/Revisit next to Form 1099-MISC
  • Enter the information as shown on your document

If you have a business and the 1099 income is related to the business, you may have to create a Schedule C. This will also allow you to deduct business expenses. Follow these steps:

  • From the Federal menu, click on Income & Expenses
  • Expand the menu for Self-Employment
  • Click Start/Revisit next to Self-employment income & expenses
  • Edit next to the business or Add the business if needed
  • Include the expense in Other Miscellaneous Expenses with a description
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How do I switch from W2 to 1099 I'm already in the system

How do I change or correct the entry? Turbotax believes it is a w2 when it should be a 1099.

JotikaT2
Employee Tax Expert

How do I switch from W2 to 1099 I'm already in the system

You will need delete your input in the W-2 section and then enter it as a 1099 section as applicable.

 

To delete the W-2 entry, you can do the following.

  1. Go to the Federal section of the program. 
  2. Select Income & Expenses
  3. Select Job (W-2)
  4. Select the little trash can icon to the right of the applicable W-2 entry

As far as the input for the 1099, it will depend upon the type of 1099 Form.  If it is a 1099-R, you will enter it as follows in the federal interview section:

  1. Select Income & Expenses 
  2. Scroll down to All Income 
  3. Select show more to the right of Retirement Plans & Social Security 
  4. Select start/revisit to the right of IRA, 401(k), Pension Plan Withdrawals (1099-R) 

If the 1099 is related to another source, it will be still be entered into your Federal interview section.

  1. Select Income & Expenses
  2. Scroll down to All Income 
  3. Depending upon the source of your 1099, your input would vary.  For example, a 1099-INT would be entered under Interest income.

Income input

 

@1ndependentm0m

 

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