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iOne
Level 4

Is there 1099-NEC support in TT business edition desktop?

How can I file a 1099-NEC in TT business edition, Windows Desktop?  Searching for the form does nothing.  And the ability to add a form in forms mode disappeared years ago.

8 Replies
tagteam
Level 15

Is there 1099-NEC support in TT business edition desktop?

There is no support for Form 1099-NEC entry in TurboTax Business.

 

You would enter the form the same as you would for ordinary (business) income on your return.

VolvoGirl
Level 15

Is there 1099-NEC support in TT business edition desktop?

Do you need to prepare the 1099NEC?  

You can  prepare  W2s and 1099s by starting a new return, go to FILE - NEW TAX RETURN

On the Work on a Tax Return screen or Welcome to TurboTax screen , scroll down to the bottom and click the blue Prepare W-2/1099 button.

 

On the next screen, Choose where to prepare your forms, click the Online or Desktop option.  You can only prepare 1099-Int & Div using the Online option.

 

https://ttlc.intuit.com/questions/1900412-how-do-i-create-w-2-and-1099-forms-in-turbotax-business

iOne
Level 4

Is there 1099-NEC support in TT business edition desktop?

I have received a paper 1099-NEC and wish to "attach" it to my Federal return yet still e-File.

 

The relevant NEC income is already accounted for (it was some rental assistance for a tenant, so just got counted as rent).

------------

As a rental property owner, I also prepare and e-File 1099-NEC's for contractors and tradespeople who work on the property, per recent IRS rules.  For those I use the online system you mention.

VolvoGirl
Level 15

Is there 1099-NEC support in TT business edition desktop?

Don't worry about that.   If the IRS wants to see it they will mail you a letter.   But whose ssn or EIN is on the 1099NEC?   The IRS might be expecting to see it on your personal return.   

iOne
Level 4

Is there 1099-NEC support in TT business edition desktop?

> But whose ssn or EIN is on the 1099NEC? 

The 1099-NEC in question is issued to the Trust.  I'm aware the IRS likely already received the form electronically from the payor.  Still, a place to put it into TurboTax would feel better.

tagteam
Level 15

Is there 1099-NEC support in TT business edition desktop?


@iOne wrote:

The 1099-NEC in question is issued to the Trust. 


That is rather strange, or at least not typical. Did the trust perform services for the issuer?

iOne
Level 4

Is there 1099-NEC support in TT business edition desktop?

That is rather strange, or at least not typical. Did the trust perform services for the issuer?

 

The trust operates a rental.

The renter got into trouble paying rent.

The renter received a rent subsidy, so a non-profit issued a rent payment directly to the Trust, and reported the payment on 1099-NEC

 

--

It's a rent control jurisdiction, so super complex, but the above is the essence.  I just booked the payment as regular rent, crediting the renter, and paying normal taxes on it.

tagteam
Level 15

Is there 1099-NEC support in TT business edition desktop?

Got it.

 

They issued a 1099-NEC instead of a 1099-MISC but that should be a non-issue, regardless, in this context.

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