My husband bowls professionally and receives 1099-Misc income from his tournament winnings. One payer lists the winnings in box 7 (non-employee compensation) which transfers to Schedule C where he can write off his expenses. Several other payers list his winnings in box 3 (other income) which does not transfer to Schedule C.
How do I get all of his bowling income to show on Schedule C, line 1 where it belongs? I run into this problem every year. Should I just "pretend" it was all reported in box 7?
If you enter the 1099-MISC under the Business Tab, income in Box 3 WILL flow to Schedule C.
Please make sure you are entering it under Business Income and not as a 1099-MISC in the Personal section.
Does this mean I have to upgrade to Home & Business from the Deluxe version?
If you are using the ONLINE version you will need the Self Employed version BUT if you are using the Downloaded version ANY of them will work ... upgrading is a suggested option for more guidance but NOT required.
Under the Personal Income tab scroll down to "Business Items" and start there.
Also, on the 2019 IRS Form 1099-MISC box 7 is not longer valid. It's greyed out on the form. The income "MUST" be reported in box 3. So if the 2019 form 1099-MISC you have shows income in box 7, it's wrong. In the program just enter the amount in box 3 and press on.
Sorry Carl ... the 1099-misc form changes for the next tax year 2020 ... the NEC (box 7) will be on a new (resurrected old) form 1099-NEC box 1 https://www.irs.gov/pub/irs-prior/f1099nec--2020.pdf
For 2019 the NEC is still in box 7 of the 1099-misc.
Yaye! You all solved by headache collectively. I was able to get all the 1099-Misc, box 3 & box 7 amounts to report on Schedule C, using my Turbo Tax Deluxe version without upgrading.
I deleted the 1099's that I had initially entered under the Personal Income section. As you suggested, under Wages & Income, I went to the Business Items and under Business Income, I was able to re-enter the 1099-Misc and they transferred over perfectly. I am forever grateful! Y'all are awesome! Thank you, thank you, thank you!