Question

is there a minimum to report 1099-nec

Forum|Forum|5 years ago
February 22, 2021
1 reply
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My son just received his W-2 and a 1099-NEC for some freelancing he did in 2020. The W-2 is less than the require $12,400 to file. Does he still need to file the 1099-NEC that is $900?

M

MayaD

Yes, your son needs to report his 1099-NEC Nonemployee compensation and all his earned income.

He would report the 1099-NEC as Self employment income on Schedule C.

He needs to upgrade to Turbo Tax Self-Employed (Online) or TurboTax Home & Business (desktop).

He’ll have a chance to enter self-employment expenses on his return.

To report the income on his return:

Login to the account.
Select Federal from the left menu.
Go to Wages and Income then select Income and Expenses.
Go to Self-employment income and expenses and click start. He'll be asked some general questions about his business. After he answers them, he’ll be taken to enter his Income and Expenses.