1099-NEC - Enter in two places?

Forum|Forum|2 years ago
February 15, 2024
1 reply
0 views

I received a 1099-NEC for some work that I do as an independent contractor. When I do my tax forms turbotax asks for this info under the 1099-MISC and other common income section and then it also asks for it in the Business Items section. Is it counting this income twice?

Best answer by Vanessa A

You will only enter it once, just in the business section of your return. Do not enter it again as a 1099-Misc. You are correct, it would be counting the income twice and you would be double taxed on that income. Be sure you are entering it as self-employment and not anywhere else on your return.

To enter your self-employment income click the following:

Federal
Income and Expenses
Show More next to Self-Employment
Start or Revisit next to Self-Employment
Yes, to you have any self-employment income or expenses
Enter the type of self-employment work you do
Click through a few more screens and you will get to a screen that says "Your XX info"
Click Looks good
Then you will come to a screen that says Let's enter the income for your business. It will give you the option of 1099-NEC or Other self-employed income including the 1099K , cash and checks. Select the one that applies to you and hit continue YOU WILL ONLY ENTER IT AS ONE THING. If you ONLY have a 1099-NEC, do NOT enter it as anything else.
If you do not select one, it will not let you enter your income
Enter your self-employment income on the next screen
Continue and on the next screen click add expenses
scroll down and click add more until you see vehicle expense

Vanessa AAnswer

To enter your self-employment income click the following:

Federal
Income and Expenses
Show More next to Self-Employment
Start or Revisit next to Self-Employment
Yes, to you have any self-employment income or expenses
Enter the type of self-employment work you do
Click through a few more screens and you will get to a screen that says "Your XX info"
Click Looks good
Then you will come to a screen that says Let's enter the income for your business. It will give you the option of 1099-NEC or Other self-employed income including the 1099K , cash and checks. Select the one that applies to you and hit continue YOU WILL ONLY ENTER IT AS ONE THING. If you ONLY have a 1099-NEC, do NOT enter it as anything else.
If you do not select one, it will not let you enter your income
Enter your self-employment income on the next screen
Continue and on the next screen click add expenses
scroll down and click add more until you see vehicle expense