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ebrown014
New Member

How do I enter robinhood's deposit matching?

I got $20 in deposit matching from a Robinhood incentive program last year. Turbotax is pushing me to file it as self employment income. The questions it then asks about the income are irrelevant, I didn't earn this money through work. How am I supposed to enter this?
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Accepted Solutions

How do I enter robinhood's deposit matching?

If this is on a 1099-MISC in the consolidated broker's statement then you can enter it this way :

 

  • Down the left side of the screen, click Federal.
  • In the center of the screen, click Income & expenses.
  • On the screen Your income and expenses, scroll all the way down to the last section, Less Common Income.
  • Click the Start or Update button for the last topic, Miscellaneous Income, 1099-A, 1099-C.
  • On the next screen, Let's Work on Any Miscellaneous Income, scroll down and click the Start or Update button for the last topic, Other reportable income.
  • The next screen asks, Did you receive any other taxable income. Click Yes.
  • On the next screen, Other Taxable Income, enter a description and the amount. Click Continue.
  • On the next screen click Done.

The income will be reported on Schedule 1 line 8 with the description that you entered. 

View solution in original post

2 Replies

How do I enter robinhood's deposit matching?

If this is on a 1099-MISC in the consolidated broker's statement then you can enter it this way :

 

  • Down the left side of the screen, click Federal.
  • In the center of the screen, click Income & expenses.
  • On the screen Your income and expenses, scroll all the way down to the last section, Less Common Income.
  • Click the Start or Update button for the last topic, Miscellaneous Income, 1099-A, 1099-C.
  • On the next screen, Let's Work on Any Miscellaneous Income, scroll down and click the Start or Update button for the last topic, Other reportable income.
  • The next screen asks, Did you receive any other taxable income. Click Yes.
  • On the next screen, Other Taxable Income, enter a description and the amount. Click Continue.
  • On the next screen click Done.

The income will be reported on Schedule 1 line 8 with the description that you entered. 

How do I enter robinhood's deposit matching?

You are asking from TT Live, for which you paid extra. Please contact a rep.
https://ttlc.intuit.com/questions/4124827-how-do-i-connect-with-a-tax-expert-in-turbotax-live

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