An independent contractor or self-employed individual should report income on Schedule C (Form 1040). You may need to file other schedules and forms, including Schedule SE (Form 1040) on income from a trade or business. You must report all income, even if you did not receive a Form 1099-NEC. See IRS Instructions for Schedule C for more information.
To enter or edit Schedule C in the TaxAct program, go to our Schedule C - Entering Sole Proprietorship in Program FAQ.
If you received a Form 1099-NEC instead of Form W-2, the payer of your income did not consider you an employee and did not withhold income tax or social security and Medicare tax. You are treated as an independent contractor for tax purposes, and this income is considered self-employment income. Go to the IRS Form 1099 NEC & Independent Contractors FAQ webpage, or the 1099-NEC Instructions for more information. Also see the Form 1099-NEC - Nonemployee Compensation FAQ.
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