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January 29, 2024
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How do I report 1099-NEC on my business taxes?

  • January 29, 2024
  • 1 reply
  • 0 views

Hello,

I have received 1099-NEC on my business name and I am not sure how to report it on Turbotax Business 2023.

If I enter it as an income will it double the Business Income since is already entered as an transaction on Quickbooks?

 

Best answer by ThomasM125

Yes, keep the form in your records.

1 reply

VolvoGirl
Employee
January 29, 2024

Yes it will double it.  Only enter the income one way from QuickBooks or 1099NEC.  

bilyana11Author
January 29, 2024

Thank you for your quick answer. What do I do with this form 1099 then? Just keep it for my records?

January 30, 2024

Yes, keep the form in your records.

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