Entering 1099-NEC - Only Requirement is Sch C Revenue?

[tccpg289]

I have seen it discussed in detail, but is it true that all 1099-NEC or 1099-Misc gets entered on Sch C?

In ProSeries, there was a form 1099 to actually key in the data and link to schedule C. I want to confirm for 2024, that feature still does not exist and is not required as long as all business income is reported on Sch C.

[George4Tacks]

ProSeries is the only professional product in this line that does it. For ProConnect enter 1099-MISC or NEC only if there is withholding. Even then the income does not flow anywhere.

Report the income where it belongs. In this case sounds like Schedule C, but for some as "other income."

[qbteachmt]

"I have seen it discussed in detail, but is it true that all 1099-NEC or 1099-Misc gets entered on Sch C?"

As an observation, you will see older topics and discussions mentioning 1099-MISC, because 1099-Misc box 7 used to be for NEC. It is now reported on 1099-NEC (an old form that got reactivated). Keep in mind that now, 1099-Misc likely isn't a Schedule C item at all.

And you'll see all sorts of wrong info about 1099-NEC, for which limit triggers reporting, for how to report, etc. Don't watch TikTok.

The entire 1099 series is Informational. If your taxpayer has only private citizens as customers, there would never be any 1099-NEC issued, because that is a business-to-business form. Even if they made $3 million, there would not be a 1099-NEC. That doesn't avoid tax reporting.

For purposes of your topic, self-employed people should be tracking all of their business activity. You report all of their business activity.

[BobKamman]

@qbteachmt "If your taxpayer has only private citizens as customers"

As opposed to public aliens?