I have1099-MISC's. Why am I seeing 1099-NEC entries on previous year return now?

Forum|Forum|2 years ago
September 19, 2023
2 replies
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9/19/23 Hi. It feels like you return to the Turbo community family each year, like Thanksgiving time. I'm back.

Here we go:

(Home and Business version) I'm self-employed. Solo private practice. Finally getting to the 2022 Returns. (had filed extension) The previous year (2021) Return is loaded up. I'm ready to start entries for 2022- Business Income. The previous year 2021 column shows 1099-NEC and 1099-MISC. I don't receive or know what a NEC is. I receive 1099-MISC's from healthcare insurances. The entered amount for both NEC & MISC are the same. (The MISC is correct amount and it's entered same in NEC entry.)

Did I report two of the same income amounts in my 2021 Tax Return? That would be a huge mistake.

I've used Turbo for years and don't recall seeing NEC in my Returns, and no where in all my business documents.

I appreciate so much if someone can explain what's happened. And if I have a correction to make now.

Thank you!

Massachusetts

TurboTax Home & Biz Windows

Best answer by VolvoGirl

Here's a couple links

What is a 1099NEC
https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-nec/1099-nec/L5qTsBiSe_US_en_US?uid=lmpws798

1099NEC vs 1099Misc
https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-nec/difference-1099-nec-1099-misc-self-employed-income/L4xBhUS9d_US_en_US?uid=lmpwu1zm

VolvoGirl

Employee

What box is the income in on your 1099Misc? Several years ago they split out box 7 from the 1099Misc to a new 1099NEC.

Actually I would forget about entering the 1099NEC or 1099Misc. Just enter the total as Other self employment income or as Cash or General income. You don't need to enter each 1099NEC or 1099K. You can enter all your income as Cash. Only the total goes to schedule C.

Check your schedule C line 1 to see if the right amount was reported.

VolvoGirlAnswer

Employee

Here's a couple links

What is a 1099NEC
https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-nec/1099-nec/L5qTsBiSe_US_en_US?uid=lmpws798

1099NEC vs 1099Misc
https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-nec/difference-1099-nec-1099-misc-self-employed-income/L4xBhUS9d_US_en_US?uid=lmpwu1zm

massachusetts1Author

Employee

Thank you Volvo. I only receive 1099-MISC with Box 6 entries. I have never received any document for 1099-NEC. I do not know how a figure was entered for NEC in the 2021 Return. I'm just seeing now since I've just started the 2022 Return.

My question is in regards to the 2021 Return, not the 2022 that I'm working with now.

I never enter anything for NEC. I never saw the term before.

In 2021, it shows the same income amount under NEC & MISC. There shouldn't be any NEC.

So is there a mistake in the 2021 Return?

Does that help clarify what I'm asking?

Thanks again.

VolvoGirl

Employee

Sorry, I don't know how Turbo Tax lists the 1099Misc and 1099NEC on the income summary pages. But as I said check your 2021 1040 schedule C and see if the right income is on line 1.