409561
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

philpgm
New Member

Do I need to enter my 1099 in the self employed business section and under the personal section? Is one spot better than the other?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

Do I need to enter my 1099 in the self employed business section and under the personal section? Is one spot better than the other?

Do NOT enter the same 1099-MISC in both sections. 

If your 1099-MISC is for business income (or you are an independent contractor), then its best to enter it in the self employed section (i.e. create a business profile and add all your income including the 1099-MISC and then take all your expenses).  If you enter a business-related 1099-MISC in the personal section, the program will likely move it to the business section anyways after you answer business related questions.

If your 1099-MISC is for a personal item - i.e you won a prize or its a one time payment for something you aren't in business for - then enter it in the personal section.

View solution in original post

1 Reply

Do I need to enter my 1099 in the self employed business section and under the personal section? Is one spot better than the other?

Do NOT enter the same 1099-MISC in both sections. 

If your 1099-MISC is for business income (or you are an independent contractor), then its best to enter it in the self employed section (i.e. create a business profile and add all your income including the 1099-MISC and then take all your expenses).  If you enter a business-related 1099-MISC in the personal section, the program will likely move it to the business section anyways after you answer business related questions.

If your 1099-MISC is for a personal item - i.e you won a prize or its a one time payment for something you aren't in business for - then enter it in the personal section.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question