You don't. Nonemployee compensation is now reported on Form 1099-NEC. You can report it as Other Income. Wages & Income I'll choose what I work on Less Common Income select Start (or Update) for Miscellaneous Income. Other reportable income and you can enter your own description(s) and amount(s).

Question

I received a 1099-misc from my employer for life insurance premiums paid. why do i need to create a business to report this income?

Forum|Forum|5 years ago
February 15, 2021
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ColeenD3

You don't. Nonemployee compensation is now reported on Form 1099-NEC. You can report it as Other Income.

Wages & Income
I'll choose what I work on
Less Common Income select Start (or Update) for
Miscellaneous Income.
Other reportable income and you can enter your own description(s) and amount(s).