1099 NEC from Broker Dealer but employer is a bank

Forum|Forum|1 year ago
February 23, 2025
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I work for a bank as an investment advisor. I receive a W2 from the bank, but I also received a 1099 NEC from my broker dealer for award travel. How do I account for this 1099-NEC on my personal return? The only employment income I have on my return is my W-2 and this 1099-NEC.

Not A Product Question

MinhT1

If you receive a form 1099-NEC for reward travel from your broker dealer, then you are not considered as self-employed and do not need to file a Schedule C.

Enter your form 1099-NEC by following the instructions in this TurboTax Help article.

In the follow-up interview, on the page titled What type of income is on your 1099-NEC? reply that it is a Hobby.

The income will be reported as Other Income. There is no self-employment tax.

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