Hello I have a 1099 form for 2023 but a lot of my deposits apart from the 1099 were put into my personal checking account. Since I have never filled for 1099 I dont know how to go about reporting those deposits .
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Hi Ana!
To clarify your question, I am assuming you received a 1099- NEC form
A 1099 NEC form is the IRS form to report nonemployee compensation( that is pay from independent contractore jobs or self employment) Examples of this include freelance work or driving for companies like Uber, Lyft or Doordash
It is ok that you deposited the money you received that was reported on the 1099- NEC as it is your personal pay for the work you performed.
However, you do need to enter this in your tax return as self employment income
To enter your Form 1099-NEC in TurboTax:
When you’re done, we’ll ask you a few questions and help you through entering any expenses you may have so that you can reduce your taxable income.
I hope this answers your question
Mary, tax expert 10 years experience
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