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Level 2
posted Jan 23, 2021 3:37:54 PM

Why is there no box 7 on the 1099 miscellaneous income

0 11 1503
11 Replies
Level 15
Jan 23, 2021 3:39:30 PM

box 7 on form 1099 has been moved in 2020 to form 1099-NEC. 

Level 15
Jan 23, 2021 3:40:06 PM

The IRS moved it to a new form 1099NEC box 1.  Are you trying to enter income or prepare 1099NEC for your people?  It's in the QEF Quick Employer Forms

https://www.irs.gov/pub/irs-pdf/f1099nec_20.pdf 

Level 2
Jan 23, 2021 3:43:20 PM

So how am I suppose to add that income

Level 2
Jan 23, 2021 3:45:12 PM

Enter income 

Level 15
Jan 23, 2021 4:11:07 PM

Did you get a 1099MISC for it?  Or did you get the new 1099NEC?  If you got a 109Misc what box is it in?  Did they send you the wrong form?  

 

If you have the Online version or even in the Desktop program just enter your total business income as Cash or General. You don't need to enter the actual 1099Misc or 1099NEC. Only the total goes to schedule C line 1.

Level 15
Jan 23, 2021 4:16:06 PM

I made a screen shot.  Enter it as Other Self Employment Income

 

Level 2
Jan 26, 2021 11:33:40 AM

My employer sent me a 1099 misc

will I get penalized if I enter it as a 1099nec

my employer was not aware of new form this year or does he need to go back cancel the 1099misc and send a 1099nec

Level 15
Jan 26, 2021 11:38:56 AM

Is it a 2020 1099Misc?  What box is the amount in?  Yes he may need to fix it.  

Level 2
Jan 27, 2021 7:41:06 AM

Yes it is a 2020 1099misc income I earned is in box 7 but turbo tax doesn’t have box 7 anymore on 1099misc

Expert Alumni
Jan 27, 2021 8:15:01 AM

@VolvoGirl @aleishacatts The 1099 MISC box 7 indicates you received $5000 or more of goods for resale.  If the originator doesn't issue a corrected form, the IRS may send you a notice if there are no sales of goods reported on your tax return. 

 

 

You should request the originator issue a corrected 1099-MISC without the check in box 7.  

Level 15
Jan 27, 2021 9:35:06 AM

@JeffreyR77   That is a 2021 1099Misc.  

Nevermind..2020 is the same.