To associate the 1099-K or a 1099-NEC (beginning tax year 2020) to a Schedule C, perform the following steps in the program:
- Federal Section
- Income (Enter Myself)
- 1099-NEC
If you have a 1099-K, go directly to the Schedule C to report your income and expenses.
New 1099-NEC Entry
After reporting your income, click Continue to save the information to your tax return, and be taken to the next page. You will then be asked where you want to add the income. You can Create a new Schedule C or add the income to an existing Schedule C (if the income comes from the same type of work). The income from the 1099-NEC will be automatically pulled to the Schedule C.
Existing 1099-NEC Entry
If you have already added the1099-NEC in the program you will need to take different steps to associate the Schedule C to the1099-NEC. Perform these steps to add to the Schedule C in the program:
- Federal Section
- Income (Enter Myself)
- 1099-NEC (Edit)
You will scroll to the bottom of the 1099-NEC, select Continue to be taken to the next page to add the 1099-NEC to a new Schedule C or to an existing Schedule C. Check the Income section of the Schedule C to ensure the income has not been duplicated.
If you question why you must associate your 1099- NEC with a Schedule C, please view our article on the subject.