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February 24, 2023
Question

1099-NEC

  • February 24, 2023
  • 1 reply
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I received a 1099-NEC, for income went through questions but when done no income shows?

    1 reply

    February 24, 2023

    Make sure that you have entered Form 1099-NEC in the right section. 

    Form 1099-NEC specifically reports Non-employee Compensation. You probably got a 1099-NEC reporting how much money you were paid in box 1.

    To enter your 1099-NEC in TurboTax:

    1. Sign in and open or continue your return
    2. Search for 1099-NEC and select the Jump to link
    3. Answer the questions and continue through to enter the information from your form
      • If you have multiple 1099-NECs to enter, you can select +Add Another 1099-NEC on the 1099-NEC Summary screen

    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.

    What is a 1099-NEC?

     

    Income reported on you 1099-NEC and any expenses entered will show on Schedule C Profit or Loss From Business.

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