Hello all, First, thank you for your help in advance. My wife received multiple stipends from The Early Learning Coalition for attending and passing classes related to her job as a Teacher. She is NOT self-employed and received a 1099-NEC. The instructions that apply to her on this NEC states as follows: "If you are not an…
Hi, my wife received a 1099-NEC, and it is a medicaid waiver, and I am seeing a mixed result when I look up if I need to include it on my tax. When I entered it on Schedule 1 and subtracted it from other income under Notice 2014-7, it significantly decreased our refund, but when I deleted it, it increased our refund. I am…
I own a rental property and paid for contract labor during the previous tax year. I have already filed the required Form 1099-NEC with the IRS. However, I am having trouble updating Schedule E, Part I, Line A. Specifically, I need to check "Yes" to the questions regarding whether I made payments that required the filing of…
I do independent contract work for a client who pays my invoices via PayPal. This year I received a 1099NEC from the client as well as a 1099K from PayPal for the same overlapping income. I am not sure what to do in this situation. It is appearing as if my income is nearly double what it truly was.
I freelance and prepare my own taxes. My employer sent me a 1099MISC and I went ahead to file my return before my employer notified me that it was the incorrect form - I should have been sent a 1099NEC. My employer is correcting this on their end and I will get a 1099NEC soon. My question is whether I need to submit an…
I get 1099 NEC income. Can I contribute to my 401k from this income?
I hire independent contractors and need to issue them a 1099 NEC because it is over $600. How do I make a 1099 NEC and issue it to them? Also do I need to file it with the IRS?
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