How to File Taxes Using IRS Form 1099-NEC (2023)

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(Video) Self Employment Income - 1099-NEC - TurboTax

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  • Features of My Documents:Included with TurboTax Deluxe, Premier, Self Employed, Premium TurboTax Live, TurboTax Live Full Service or with PLUS benefits and available through 12/31/2024. Terms and conditions may vary and are subject to change without notice.
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  • Easy change online:Individual taxes only. Included with TurboTax Deluxe, Premier, Self Employed, Premium, TurboTax Live, TurboTax Live Full Service or with PLUS benefits. Make changes to your 2022 tax return online up to 3 years after it was filed and accepted by the IRS by 10/31/2025. Terms and conditions may vary and are subject to change without notice. With TurboTax Live Full Service, your tax specialist will correct your 2022 tax return by November 15, 2023. After 11/15/2023, TurboTax Live Full Service clients can amend their own 2022 tax returns using the simple online modification process described above.
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  • 1099-K Adjust and AutoFill:Available only on the mobile app and mobile web.
  • 1099-NEC Fit and AutoFill:Available in TurboTax Premium (formerly Standalone) and TurboTax Live Assisted Premium (formerly Standalone). Only available on the mobile app. Feature available on the Schedule C tax form for TurboTax filers with 1099-NEC income.
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  • Average reimbursement amount:The $3,252 total is the average refund received by US taxpayers as of IRS data as of 12/30/22 and may not reflect the actual amount of refund received.
  • Average amount of deduction:Based on average value of deductions/expenses reported by self-employed TurboTax clients who reported expenses on Schedule C in tax year 2021, which may not reflect actual deductions.
  • More deductions for self-employedBased on the average amount of fees for TurboTax Premium customers (formerly self-employed) who have synced accounts, imported and categorized transactions face off against manual entry. The individual results can change.
  • TurboTax Online Business Products:For TurboTax Live Assisted Business and TurboTax Full Service Business, we currently do not support the following tax situations: C-Corps (Form 1120-C), Trust/Estates (Form 1041), Multi-State Filings, Tax-Exempt/Non- Corporations for Incorporation Purposes. profit, businesses that elect to be treated as C-Corps, Schedule C sole proprietorships, payroll, sales tax or quarterly returns, and foreign income.

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Individual TurboTax returns:

(Video) IRS Form 1099-NEC. Where do I Report the Income?

  • Guaranteed 100% accurate calculations - Individual returns:If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we'll pay the penalty and interest. Payment plans excluded. This guarantee lasts for the life of your individual tax return, which Intuit defines as seven years from the date you file it in TurboTax Desktop. TurboTax Business income is excluded. Additional terms and restrictions apply. To seeLicense agreementfor details.
  • Maximum Money Back Guarantee / Maximum Tax Savings Guarantee - or your money back - Individual returns:If you receive a higher refund or a lower tax due by another tax preparation method, we will refund the federal and/or state TurboTax software license purchase price you paid when you filed an amended return. This guarantee lasts for the duration of your individual tax return, which Intuit defines as seven years from the date you file it in TurboTax Desktop. TurboTax Business income is excluded. Additional terms and restrictions apply. To seeLicense agreementfor details.
  • Audit Support Guarantee - Individual Returns:If you receive a review letter from the IRS or the US Department of Internal Revenue based on your TurboTax 2022 individual tax return, we will provide you with an application through ourAudit Support Center, for audited individual returns filed with TurboTax for the current tax year 2022 and for non-business individual returns for the last two tax years (2021, 2020). Audit support is for informational purposes only. We do not represent you before the IRS or state tax authorities, nor do we provide legal advice. If we are unable to connect you with one of our tax experts, we will refund the purchase price he paid for the federal and/or state TurboTax license. This guarantee lasts for the life of your personal and individual income tax return, which Intuit defines as seven years from the date you file it with TurboTax. TurboTax Business income is excluded. Additional restrictions apply. To seeLicense agreementfor details.

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  • Refund as quickly as possible:Faster federal tax returns with electronic filing and direct deposit; Tax return deadlines vary. The IRS issues more than 9 out of 10 refunds in less than 21 days.
  • Average reimbursement amount:The $3,252 total is the average refund received by US taxpayers as of IRS data as of 12/30/22 and may not reflect the actual amount of refund received.
  • TurboTax Product Support:Customer service and product support hours and options vary by time of year.
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(Video) How to File Form 1099-NEC & Form 1099-Misc [1099 Filing Requirements & Deadlines] IRS' Form 1099

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