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.
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…
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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