So I'm a day trader and was paid and I received a 1099-NEC form turbo tax will no let me add it for my taxes it says it needs box 3 buts its blank or grayed out

[DavidD66]

Form 1099-NEC box 3 is currently not used.  It is, according the instructions for Form 1099-NEC "reserved for future use".  Perhaps you are in the 1099-MISC entry screen.  Box 3 of 1099-MISC is for "other income".  

Why would you report income reported on Form 1099-NEC Nonemployee Compensation?  Your Schedule C for your trading activity should only have the expenses relating to your trading activity.  You need to create a separate "business" to report income reported on a 1099-NEC.  All of your trader income should be reported on Schedule D & Form 8949, or if you've made a mark-to-market election under section 475(f) on Form 4797.

[kentruvalcaba26]

I received a 1099-NEC from a company called rise i was paid by a trading company i go to the self employed option correct?

[kentruvalcaba26]

how should I fill this out? The company paid me and sent me a 1099 NEC form so what or where should I fill out this information in TurboTax? I tried doing the option self-employment income expenses for schedule C 1099 NEC but yes once I applied everything, it still asked me to fill out box No. 3 and again it’s blank or grayed out

[kentruvalcaba26]

How i trade i use a company called elite trading funding once you are ready to request for a payment it goes through rise works Inc then the money is sent and the firm was sent by rise and it's a 1099NEC so where can I submit this information? Can I just upload the documents?

[KrisD15]

What boxes are reported on your 1099-NEC? 

Where did you enter the 1099-NEC in the program? 

The program should not ask about Box 3 on a 1099-NEC, could it be asking about Box 3 on a different form? When do you get the error? 

[kentruvalcaba26]

it asked me to revisit the form to fill out box No. 3 for the NEC box, but as I mentioned, it’s blank and TurboTax will not allow me to process that document. It says it will delete the form if I can’t fix the issue no I’m trying to re-add the whole form back into TurboTax but it seems like I’m doing it wrong now

[KrisD15]

Are you sure you did not inadvertently enter in the 1099-MISC section? 

If you are filing Schedule C as a Self-Employed taxpayer, you can enter the 1099-NEC under business income under that business profile. 

If you file under personal, Wages & Income

Other Common Income

Income from Form 1099-NEC     START    the program will ask you to "link" it to a business.

Also, please check the entries under-

Personal Income / Wages & Income

Other Common Income

Income from Form 1099-MISC   check if anything is entered there or carried over from last year 

[kentruvalcaba26]

I do have other forms that are 1099 MISC as well as this form 1099 NEC the other ones are perfectly fine. They’re filled out OK there’s no issues unfortunately it’s just the NEC one. It’s giving me troubles, but I will try to resubmit this to see if it would give me the same issue

[kentruvalcaba26]

To confirm i don't work for that company Rise they just paid me that's all

[kentruvalcaba26]

I give up I'm forced to pay since it's not working.

[RobertB4444]

As @DavidD66 and @KrisD15  say above box 3 on the 1099-NEC is not used by the program.  You are entering your 1099-NEC in the wrong place.  It is a different form from the 1099-MISC and you need to enter it in a different location.

If you already have a schedule C started then the program will ask if you have a 1099-NEC.  Enter it there.  When it asks about 1099-MISC enter those forms there.  DON'T MIX THEM UP.

@kentruvalcaba26 

[kentruvalcaba26]

I didn’t mix anything up. Everything is applied correctly to the right location this 1099 NEC it’s giving me an issue but forget it. I’m going to pay for it because I’m done with this