How to Report 1099 Income in TurboTax

A 1099 is an information form that reports income you received from someone other than a regular employer. Unlike a W-2, a 1099 often has no tax withheld, which means you may owe tax on that income when you file. There are several types, each one for a different kind of income.

This is an independent guide for general education and not affiliated with Intuit.

You may run into forms such as:

• 1099-NEC: for nonemployee compensation, common for freelancers and contractors.
• 1099-MISC: for certain other types of payments.
• 1099-INT: for interest income.
• 1099-DIV: for dividends.
• 1099-K: for payments processed through certain platforms.

TurboTax asks about income by type, so it guides you to the right spot for each form. You can often import investment-related 1099s directly from a financial institution, or enter the figures from the boxes by hand. Match each box carefully to the form so the income lands in the correct place.

If your 1099 is for freelance or contract work, that income is generally self-employment income. Beyond regular income tax, you may owe self-employment tax, which covers Social Security and Medicare. TurboTax calculates this and also lets you deduct related business expenses, which lowers the income that gets taxed.

One nice perk of self-employment is the ability to deduct ordinary and necessary business expenses, like supplies, software, mileage, and a qualifying home office. Keeping records of these throughout the year, not just at filing time, can meaningfully reduce your taxable income. TurboTax prompts you for these as you enter your business income.

Even if you didn't receive a 1099 for some income, you're generally still required to report it. The form is a record, not the trigger for the tax. Report all of your income accurately, and use your own records to fill in the gaps where a payer didn't send a form.