Question

Form 1099-NEC

Forum|Forum|3 years ago
April 2, 2023
1 reply
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I am using Turbo Tax Premier desktop version.

I received a 1099 -NEC form. I received this form because I have a Non Compete Agreement. I do not have a business of my own.

On the page of Turbo Tax under wage and income - where it asks Does one of these uncommon situation apply? The answer is none of these apply to me. But then it asks for the business name and continues asking questions as though I have a business. This does not apply.

If I choose This is not money earned as a employee or self-employed individual, it is from a sporadic activity or hobby (this is not common). the first part of this statement is true.

I did not earn as a employee or self employed individual.

How do answer this? Last year is was very simple in was non employee income period!

J

JamesG1

Perhaps the income was reported on an IRS 1099-MISC rather than an IRS 1099-NEC.

Reporting 1099-NEC income as something other than Schedule C income is not common.

However, to report 1099-NEC information as other income follow these steps:

Select Federal from the left side menu.
Click on Wages & Income.
Scroll down to Other Common Income. Click Show more.
Click Start / Revisit to the right of 1099-NEC.
At the screen Describe the reason for this 1099-NEC, enter the reason for this income.
At the screen Does one of these uncommon situations apply?, select This is not money earned as an employee or self-employed individual, it is from a sporadic activity or hobby.