Report Income 1099-NEC without payer's TIN

[TheWisdom]

Hi Experts,

I have a question about reporting income. I don't have 1099-NEC but I have this check including the payer's company name, address & phone number. Can I just enter the 1099-NEC without the payer's TIN? Will the software go through (I got Turbotax Home & Business)? If yes, would it result in an inquiry from the IRS because they don't see the payer's TIN?

[FangxiaL]

You don't need to create a 1099-NEC. Your client paid you cash with a check. Just enter it in the space for cash. If you did not receive a 1099-NEC, you don't create one. 

[TheWisdom]

Hi Fangxial. Thanks for your help. 

I worked for 316 Nails LLC as an independent contractor. After I quit, they hate me, and that is why they don't send me the 1099-NEC even they had already filed it. This is not cash paid, this is a check and they filed 1099-NEC.

Would it cause an IRS inquiry if I report it for cash while they file 1099-NEC & use it as their expense to deduct? 

[FangxiaL]

Check is equivalent to cash. Do you have other self-employment income to report? if not, the amount showing on your Schedule C will match the 1099-NEC if the company did file one with the IRS. I don't see any issue down the road.

As long as you report your income, there is nothing to be afraid of. IRS wants us to pay the correct amount of tax, not a penny more. The company should send you a 1099-NEC if it did issue you one.  

Did you work for the company in prior years? If so, maybe you can find out the EIN from a prior year's tax form. 

@TheWisdom

[TheWisdom]

1. Yes, I do have other self-employment income.
They are a small LLC, they filed 1099-NEC but deny to send it to me. You say should, so in this case what we can do if they should but they don't send it? Can I report them to IRS about this?
I'm an independent contractor, I only cooperate with them for 10 days and I have no record of their EIN.

2. Here I'm a 1099-NEC earner, should I answer yet? 

[VolvoGirl]

Yes you are self employed and fill out Schedule C.  Actually you can just enter it as Other self employment income or as Cash or General income.  You don't need to get a 1099NEC or 1099Misc or 1099K.  Even if you did you can enter all your income as Cash.  Only the total goes to schedule C.

Don't worry about not getting the 1099NEC.  As long as you report as much or more income on Sch C line 1 it's ok.  

[VolvoGirl]

By the way, cash is the same as check or even 1099NEC.  It is all income.  

[MarilynG1]

If you never received a 1099-NEC, you can still report your Business Income and Expenses, so you can answer Yes on this screen.

Many self-employed persons have income received as cash, checks, or 1099 forms. 

Keep track of how you arrived at the amounts you enter.

Click this link for more info on Reporting Self Employment Income. 

[TheWisdom]

Thanks, expert.

I know this is a dumb question but I have to double-check with you to make sure that I get the taxes done right and there is no issue on my tax returns: As a 1099-NEC earner, should I report my income right here in the business section or personal section?

Business Income report or Personal Income report?

[LenaH]

You would enter your 1099-NEC under the Business section of TurboTax under the Business Income section. 

@TheWisdom

[VolvoGirl]

Since you have the Home & Business program you enter it under the Business tab.  You are in the right spot.  Fill out all the sections you have like Income and expenses and Assets.  That fills out Schedule C.  

[TheWisdom]

Thanks for helping me!

[TheWisdom]

Thanks. Where to import 1099s from Fidelity Investment & Robinhood (Investment Income)? Is it business or personal income?