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February 25, 2021
Question

I worked as a consultant in 2020 and earned 5,000. I do not own the company but worked as a contractor. Do I list myself as self employed? How do i claim the earnings?

  • February 25, 2021
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February 25, 2021

An independent contractor can be an employer or company and is self-employed.  A person is considered an independent contractor, if ihe/she controls the work, how it be done and what will be done  The income of independent contractor is reported on form 1099-NEC, in 2020 (previously 1099-MISC). The businesses that paid your services will report your income on form 1099-NEC and is reported on Schedule C of 1040.

 

To enter income from 1099-NEC or 1099-MISC:

  1. Login to Turbo Tax.
  2. Jump to Self-employment, Schedule C, 1099-Misc, 1099-NEC, 1099-K, and expenses, click show more.
  3. Click Self-employment, then click Start.
  4. Enter your self-employment information.