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February 7, 2025
Question

Where do I enter income found on my 1099-NEC?

  • February 7, 2025
  • 2 replies
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    2 replies

    KrisD15
    February 7, 2025

    Form 1099-NEC reports Non-Employee Income. 

    That is the same as Self-Employment income. 

     

    You can enter it on your Schedule C under the business tab in TurboTax Home and Business Desktop or Self-Employed Online.

     

    You can enter it under 

    • Wages & Income
    • 1099-MISC and Other Common Income
    • Income from Form 1099-NEC    START

     

    in other TurboTax versions 

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    VolvoGirl
    Employee
    February 7, 2025

    1099NEC is self employment income.

    Yes you are the owner of your own self employment business.  You are in business for yourself.  Use your own info.  The people or company that pays you is your customer or client.  You are considered to have your own business for it.  YOU are the business.

     

    You need to fill out schedule C for self employment business income and pay self employment tax in addition to regular income tax on it.  The SE tax is to pay Social Security and Medicare tax that wasn't taken out like on a W2.

     

    You use your own name and ssn or business name and EIN if you have one.   You should say you use the Cash Accounting Method and all  income is at risk.  After you put in your income and expenses  if your net profit is $400 or more you will pay 15.3% for Self Employment tax in addition to your regular income tax.  The Schedule SE will be automatically filled out for it.

     

    You can enter Self Employment Income into Online Deluxe but if you have any expenses you will have to upgrade to the Premium version.  Or use any of the Desktop installed programs.  All the Desktop programs have the same forms.  You just get more help and guidance in the higher versions.

     

    How to enter income from Self Employment

    https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

     

     

    Here is some IRS reading material……

     

    IRS information on Self Employment

    http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employed-Individuals-Tax-Center

     

    Pulication 334, Tax Guide for Small Business

    http://www.irs.gov/pub/irs-pdf/p334.pdf

     

    Publication 535 Business Expenses

    http://www.irs.gov/pub/irs-pdf/p535.pdf

     

    Turbo Tax Self Employed Tax Hub
    https://turbotax.intuit.com/personal-taxes/self-employment-taxes


    Turbo Tax Self Employment info
    https://turbotax.intuit.com/tax-tips/self-employment-taxes/beginners-tax-guide-for-the-self-employed...