I did not receive a 1099-NEC since I made less than 600, but I am being asked for the payers federal EIN number which I don't have, what should I do?

Forum|Forum|5 years ago
February 26, 2021
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TurboTax Deluxe Online

MinhT1

If you received self-employed income for less $600, you will not receive a form 1099-NEC. But you have to report this income on your tax return. You do not enter this income as a form 1099-NEC so you do need the payer's Federal EIN.

You report the income you received in cash, checks or bank transfers or without a 1099-NEC as self-employed income under Other self-employed income.

In business income, just under Type of Income, click on Add Income for this work
On the next page, click on the radio button next to Other Self-employed Income
Click Continue to enter your income received in cash, checks or bank transfers.

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coradiehlAuthor

Thank you for your help.

This is what I have been doing, but at the end it still asks for the EIN I have double checked a couple times now.

AmyC

Employee

Return to the business. Edit. Income Edit. The screen gives options. Select Other Income. Enter description of cash and the amount. Click continue. There is no EIN entry.

The program will be able to calculate the SE tax, if any from there. Self Employment tax (Scheduled SE) is automatically generated if a person has $400 or more of net profit from self-employment. You pay 15.3% SE tax on 92.35% of your Net Profit greater than $400. The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare. So you get social security credit for it when you retire.