W2-G 1099–Nec

[Kiki15]

I’m currently unemployed but have to file taxes because I have a W2-G for my casino win. (At the time I had the taxes taken out of my win) I also have a form 1099-NEC I received from completing a certificate program in my community. Both of these incomes I earned from my personal reservation that I’m an enrolled tribal member. This means that I should be able to fill out 2024 Schedule OR- EIS for exempt income. Upon filling this out I should receive back my taxed casino winnings ($300) and not have to pay the taxes associated from my 1099-NEC right? (The money was never taken out of my check associated with my 1099-NEC)  Upon completing my taxes it says I owe a federal amount of $53 though? I would expect to just be given money back not owe anything! So what is going wrong? Is it the 1099 that is messing things up? Am I supposed to file it another way?? I need help please! 

[MaryK4]

Did you enter the 1099-MISC as Miscellaneous income?  If you have a Schedule C, it may be self- employment income.  

To enter as Miscellaneous income, delete the 1099-MISC and Schedule C and Under Less Common Income select Miscellaneous Income, 1099-A, 1099-C
 

• On the Let's Work on Any Miscellaneous Income page, select Start to the right of Other reportable income
• On the Any Other Taxable Income? screen, select Yes
• On the Other Taxable Income screen enter the description then the amount.  Select Continue
• On the Other Miscellaneous Income Summary screen, select Done

[Kiki15]

No i didn’t file it as 1099-MISC. I filed it as the 1099-NEC since that’s the form I was sent. Are my thoughts about me getting the money back correct?? 

[MaryK4]

Can you see if the tax is self-employment?  Look at Line 23.  Or- what is the amount of the 1099-NEC?

You can view your entire return or just your 1040 form before you e-file:

1. Sign in to TurboTax.
2. Open or continue your return by selecting Start or Continue.
3. Select Tax Tools from the menu.
4. With the Tax Tools menu open, you can then:
   • Preview your entire return: Select Print Center and then Print, save or preview this year's return (you may be asked to register or pay first).
   • View only your 1040 form: Select Tools. Next, select View Tax Summary in the pop-up, then Preview my 1040 in the left menu

@Kiki15

[Kiki15]

My W2-G is $1,200 and my 1099-NEC is $2,500.

Line 23 is $353 

[MaryK4]

Yes, you have the self-employment income.  See my post above to delete the 1099-NEC entry and enter it as Miscellaneous income.  @Kiki15

[Kiki15]

No option for 1099-A 

1099-C says cancelled debt which doesn’t seem right. Is the goal to have the income reported as other income? It says I could do that under 1099-misc 

[DawnC]

You want the Other Reportable Income entry.   After you choose the 1099-A/1099-C option, scroll all the way down to the last option in the list - it will be Other Reportable Income.

You can search for other reportable income (use that exact phrase) and use the Jump to other reportable income link in the search results. 

[Kiki15]

[Kiki15]

The pictures I posted are my options 

[Kiki15]

I don’t know what to out because under miscellaneous incomes or says don’t put self employment income 

[DawnC]

You should answer YES for miscellaneous income - you currently have NO selected.   After changing that to YES, you will be able to select Other Reportable Income - it will be the last option.  

[DawnC]

Adding this since I did not see this post before I posted my last reply >>>  You are entering the amount from your 1099-NEC as miscellaneous income because it is not self-employment income, correct?   

If so, enter certificate completion as the description and enter the $2500 as the amount on the screen above - It will put the $2500 as Other income instead of Self-Employment income.   @Kiki15 

[Kiki15]

On my 1099-NEC it says it’s nonwmployee compensation. It’s from a business but given up on completion of a program.  I do not have my own business. It is taxable since no taxes were taken out. It’s okay to report as miscellaneous as you’re saying? 

[DawnC]

You can report the income as miscellaneous income as long as it is NOT for self-employment.   If it is self-employment, it goes on Schedule C which is business income and is taxed differently.   If you did work to earn money, it is self-employment.  For the schedule C, you can use your name and home address for the 'business'.    When you earn income but are not an employee, you are considered to own your own business.

However, if it was not self-employment income, it does not belong on Schedule C and should be reported as miscellaneous income - taxed as ordinary income.   Examples are lawsuit settlements, prizes, awards, research studies, rebates, or other miscellaneous income you received without any intent to earn income.  I need to enter a 1099 - Am I Self-Employed?