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Level 2
posted Apr 11, 2020 6:34:47 PM

What will be different filing this year with only a 1099 and not a W-2

I'm filing this year without a W-2 simply because I didn't receive any income from an employer with taxes. Although I didn't receive a W-2, I received a 1099-Misc and am wondering if something will be different when filing this year other than having to fill out a Schedule C. WIll I have to fill out a 1040? Also am i able to use TurboTax free file if I meet requirements and don't have a W-2 and only a 1099?

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1 Replies
Intuit Alumni
Apr 11, 2020 7:04:28 PM

Yes, you will need to prepare a regular Form 1040.  If your 1099-Misc indicates you had "Non Employee" Compensation income (in Box 7 of the 1099) you will need to file a Schedule C and use one of the Self Employed or Home & Business Versions of Turbo Tax.

 

You will not be able to use the Free Version of TurboTax, as that can be used only with simple tax returns: 

 

A simple tax return is Form 1040 only, without any additional schedules. Simple tax situations covered in TurboTax Free Edition include:

  • W-2 income
  • Limited interest and dividend income reported on a 1099-INT or 1099-DIV
  • Claiming the standard deduction
  • Earned Income Tax Credit (EIC)
  • Child tax credits


Situations not covered in TurboTax Free
Edition include:

  • Itemized deductions
  • Business or 1099-MISC income
  • Stock sales
  • Rental property income
  • Credits, deductions and income reported on schedules 1-3, such as the Student Loan
    Interest Deduction