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January 31, 2023
Question

1099-NEC & 1099-MISC same company. 1099-MISC has a total for box 7. Where do I enter that?

  • January 31, 2023
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January 31, 2023

The current Form 1099-MISC, Box 7, is a checkbox to indicate sales of consumer products of more than $5,000.

 

In older versions of Form 1099-MISC, Box 7 was used to indicate nonemployee compensation. 

 

Starting with the 2020 tax year, the IRS requires clients and businesses to report these payments on the 1099-NEC.

 

Did the payer issue two forms for the same payment? Contact the payer if their intent isn't clear.

 

You can enter all of your self-employment income in the self-employment section of TurboTax regardless of the form you received.

 

See this article for more information on filing taxes with Form 1099-NEC in TurboTax. 

 

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