If you receive tax form 1099-NEC for services you provide to a client as an independent contractor and the annual payments you receive total $400 or more, you'll need to file your taxes a little differently than a taxpayer who only receives regular emplo
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If you don’t want to use tax preparation software or hire a tax professional, you can calculate your self-employment taxes. Add up all the income you earned in 2023, which will be on those 1099-NEC forms and maybe a 1099-K or possibly a 1099-MISC form. Then subtract ...
Here’s what to do with each type of form: W-2 You should receive this in the mail, via email, or online from your employer. With TurboTax you can enter your W-2 both manually and via automatic import from over a million employers. Forms 1099-NECS and 1099-Ks If you did ...
TurboTax Tip: If you receive multiple 1099s for your ridesharing business, you can combine the income from all of them on one Schedule C, since they all relate to the same business. However, if you have another side gig, such as cleaning services, you’ll typically...