After I entered the income to the1099 NEC line in Personal Income, the line showed nothing. I tried it again and again. It still showed zero. Why? Thank you.
After I entered the income to the1099 NEC line in Personal Income, the line showed nothing. I tried it again and again. It still showed zero. Why? Thank you.
@lorraine_otero , assuming that you are using windows download Home & Business ( only because I am not familiar with the screens of the on-line versions );
(a) Under Personal Income tab, select " I will choose what I work on "
(b) Then from the list of income types shown, go down till you find 1099-NEC and select this.
(c) This will take you through set of questions/answers to help fill out the Schedule-C -- this is where you report Non-Employee Compensation -- 1099-NEC.
(d) Note that the Schedule-C income also attracts Sel-Employment tax ( Schedule-SE ) . This equivalent to FICA taxes but at the full 15.3%.