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Level 2
May 7, 2021
Solved

Schedule C Error?

  • May 7, 2021
  • 2 replies
  • 9 views

I have a single 1099-NEC for $600 that needs to be entered into Schedule.  Turbotax populates that information in two places, "Gross Receipts or Sales NOT Reported on a 1099-NEC or 1099-MISC" and also on "Enter Gross Receipts or Sales Reported on a 1099-NEC." Because it shows up twice, I end up with $1200 total rather than $600.  Is this an error?  If so, how can I fix it?  This will presumably result in me being charged more in taxes.

    Best answer by Mike9241

    review the entries you made. it is likely, the $600 got entered twice.

    you can use

    1099-NEC or

    1099-MISC - linked to schedule C por

    or enter on the line for 1099 not received 

     

    but use only one.

    using 1099-NEC or 1099-MISC is not required. they're really for your records only. the amounts on them get transferred to the applicable form but none of the details are sent o the IRS 

    2 replies

    RayW7
    Level 12
    May 7, 2021

    Yes, you should only report the income from the 1099-NEC in Schedule C.  This should total $600 as reported. 

     

    -follow this link for additional information-

    How to File Taxes with IRS Form 1099-NEC - TurboTax Tax ...

     

     

    Mike9241
    Level 15
    Mike9241Level 15Answer
    Level 15
    May 7, 2021

    review the entries you made. it is likely, the $600 got entered twice.

    you can use

    1099-NEC or

    1099-MISC - linked to schedule C por

    or enter on the line for 1099 not received 

     

    but use only one.

    using 1099-NEC or 1099-MISC is not required. they're really for your records only. the amounts on them get transferred to the applicable form but none of the details are sent o the IRS 

    Mike9241
    Level 2
    May 7, 2021

    That's what it was.  Thanks.