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m_heilala
Level 1

Entering Commercial Fishing USDA Seafood Tariff Relief Payment

I have a 1099-G form for Agricultural Payment from the Seafood Tariff Relief Program (Box4 and Box 7). I report my income from my commercial fishing business on a schedule c. If I enter the 1099-G and select agricultural payments it asks only if this from a Farm or Farm Rental (Neither of which apply). Is there any other way of entering this so that it is associated with my commercial fishing Schedule C

5 Replies
KrisD15
Expert Alumni

Entering Commercial Fishing USDA Seafood Tariff Relief Payment

No, the Grant is considered as a personal Grant. You do not pay Self-Employment tax on it. 

Please enter it in TurboTax on the personal Income section under "Other Income". 

 

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AKAurora1
Level 1

Entering Commercial Fishing USDA Seafood Tariff Relief Payment

Hello,

 

I have the same situation but just to clarrify, the payment is in box 7 as an a"Agricultural payment".....not as a taxable grant. 

Is the answer the same? An amount in box 7, agricultural payment, is still not subject to self-employment tax and should go under "other common income"?

Thanks! 

PattiF
Expert Alumni

Entering Commercial Fishing USDA Seafood Tariff Relief Payment

The payment is taxed as regular income, but it is not subject to self-employment income. 

 

Another way to report this income without having to chose Farm or Farm Retail at the end is to enter this in Miscellaneous Income.

 

In either TurboTax CD/Desktop or TurboTax Online:

 

  • Go to Less Common Income
  • Choose Miscellaneous Income, 1099-A, 1099-C, Start
  • Select Other reportable income and then Start
  • Other Taxable Income, Enter Description "1099-G Seafood Tariff Relief Payment and amount

The grant payment is entered as regular income that it not self-employment income.

 

 

AKAurora1
Level 1

Entering Commercial Fishing USDA Seafood Tariff Relief Payment

Thank you for the quick comeback! I thought the IRS would issue some sort of guidence/publication on agricultural payments that cover the seafood trade relief program. Thanks again for the help.

randy2
Level 2

Entering Commercial Fishing USDA Seafood Tariff Relief Payment

How and where did you determine that the grant is NOT subject to SE Tax? thank you

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