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This article demonstrates how to complete Form 1099-NEC. |
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About Form 1099-NEC
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Taxpayers should receive a 1099-NEC form, if they earned more than $600 as compensation for services they performed for an individual who is NOT their employer.
Taxpayers who receive this form are considered independent contractors.
Form 1099-NEC must be linked to SCH C (Profit or loss from a business) or SCH F (Profit or loss from a farm).
Failure to link 1099-NEC to the proper form will result in failure to pay the proper amount of taxes.
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Completing Form 1099-NEC
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Select Add Form.
Select Locate and highlight Form 1099-NEC in the All Forms & Schedules Menu. Double-click to add the form.
If a joint return, choose New Taxpayer's or New Spouse's Occurrence.
Complete the 1099-NEC, filling in all applicable sections.
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Linking Form 1099-NEC
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1099-NEC must be linked to the appropriate form either SCH C (Profit or loss from a business) or SCH F (profit or loss from farming). 1099-NEC's received for services or work a taxpayer performed should be linked to SCH C.
Select the Link to (1040, SCH C, or F) box in box 1 of Form 1099-NEC.
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Select Choices (either from the Active Options Window-desktop/hosted or by alt+C-CLO).
Select the SCH you wish to link to. If no SCH C is on the return select Unnamed Activity. If there is already a SCH C added, then you can select the SCH C you have already added and named. Double-click to link.
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You can view |
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linked income on SCH C Line 1 or SCH F line 1 or 37. |
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Related Articles SCH C (Form 1040) Profit or Loss from Business (Sole Proprietorship) |