What does "method used to value closing inventory" mean for non employee who just works for business. Nothing paid into business. Also checked "manually participated" , is that correct

[JohnB5677]

Please clarify your question.

• If you are an employee, why are you preparing a business return?
• Are you trying to file a personal tax return?
• What TurboTax software package are you using?

Please contact us again to provide some additional details. 

[1421windsong]

I got a 1099 NEC and turbo tax is having me do a schedule C  thanks

[1421windsong]

It has me on premium addition and yes for a personal tax return

[LeticiaF1]

Since you received a Form 1099-NEC, that income is considered self-employment. ‌You will need to report it on your return on ‌Schedule C. You can also you can report any expenses you had while doing this work.  When you fill out your information for Schedule C, the program will ask what kind of work you are doing. 

This'll tell the program what kind of expenses you might have. ‌If you didn't have inventory, and you don't have any items that you sold, then you don't have to enter anything for this.‌ You can go back to the screen where you selected your business expenses, and unselect the inventory section.  

If you did have items that you sold, you might still not need to enter anything for inventory. You can use the cash method and expense the cost of the items you purchased for resale when you buy them rather than when you sell them.  

Do I need to report inventory?

A Guide to Self-Employment Taxes for Contractors, Freelancers, and Beyond 

Regarding your other question about if you could check the "manually participated" box, you should select it if you were active in your job in the day to day activities.  

See the following images for your reference.  If you continue having problems, please reach out to us again.  

@1421windsong