Have a 1099-NEC for self-employed income, trying to input. Turbo-tax asks if I "received a tax document from my payment processor." What ? How to input?
Have a 1099-NEC for self-employed income, trying to input. Turbo-tax asks if I "received a tax document from my payment processor." What ? How to input?
That would be referencing a 1099-K. Businesses that accept credit cards for payment may receive a 1099-K for the reportable transactions they processed on your behalf. If you do not accept credit cards or did not receive a 1099-K, the answer to the question would be "no" but you would enter your total income for your business either way.
If you did receive a 1099-K, please follow these steps to enter it:
Open or continue your return
Search for Schedule C and select the Jump to link in the search results
Answer the questions about your business. On the Let's enter the income for your work screen, select Other self-employed income
If you’re returning to Schedule C, select Review or Edit next to your work and then answer the questions about your business
On the Tell us about other self-employed income for your work screen, enter your 1099-K info
Select Continue when finished
If you are entering income from a 1099-K, remember that it reports the gross amount of the transactions. It doesn't include any adjustments for credits, refunds, discounts, or fees. You’ll have a chance to enter self-employment expenses in another part of your return.