Taxes Doubled!

[evanperez1030]

Last year, my 1099-NEC was not treated as self-employment in my return, this year Turbo Tax is forcing it to be. It has double my amount of taxes! I just want to know if this is correct? and if so what has changed from last year?

[xmasbaby0]

What kind of work did you do to get the 1099NEC?   Typically a 1099NEC is issued for non-employee compensation---to an independent contractor,   so you have to pay self-employment tax for Social Security and Medicare as well as ordinary income tax.

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

And did you enter business expenses on a Schedule C?

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

[LeonardS]

Generally, Form 1099-NEC is for self-employment income that is reported on Schedule C.  If you report your 1099-NEC on Schedule C you will not be taxed twice.

Follow these steps to enter your 1099-NEC in TurboTax:

1. Sign in to your TurboTax account if it is not open
2. Enter 1099-NEC into the search box
3. Click on Jump to 1099-NEC in the results box
4. Answer yes to the question Did you get a 1099-NEC
5. On the page Do You Want to Enter Your 1099-NECs Now click Add a 1099-NEC
6. Answer the questions on the page Let's get the info from your 1099-NEC
7. Enter the reason for the 1099-NEC
8. Follow the prompts to add your 1099-NEC information.

This TurboTax link What is a 1099-NEC? has information you may find useful