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Level 1
posted Feb 25, 2024 7:29:44 AM

How do I enter data for Schedule 1 Line 8z?

An insurance dividend that “exceeds the total of premiums paid” was reported on a 1099-R and 1040 Instructions page 88 & 89 say to report this on Schedule 1 line 8z... how do I do this on TurboTax?   

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1 Best answer
Expert Alumni
Feb 25, 2024 12:17:35 PM

To report income on Federal 1040 Schedule 1 line 8z, follow these steps:

 

  • Down the left side of the screen, click Federal.
  • Down the left side of the screen, click Wages & Income.
  • Scroll down to Less Common Income and click on the dropdown menu.
  • To the right of Miscellaneous Income, 1099-A, 1099-C, click the Start / Revisit button.
  • To the right of Other reportable income, click the Start / Revisit button.
  • At the screen Any Other Taxable Income, click Yes.
  • At the screen Other Taxable Income, enter a description and the amount.
  • Click Continue

The entry will be reported on line 8z of Schedule 1 of the Federal 1040 tax return.

 

1 Replies
Expert Alumni
Feb 25, 2024 12:17:35 PM

To report income on Federal 1040 Schedule 1 line 8z, follow these steps:

 

  • Down the left side of the screen, click Federal.
  • Down the left side of the screen, click Wages & Income.
  • Scroll down to Less Common Income and click on the dropdown menu.
  • To the right of Miscellaneous Income, 1099-A, 1099-C, click the Start / Revisit button.
  • To the right of Other reportable income, click the Start / Revisit button.
  • At the screen Any Other Taxable Income, click Yes.
  • At the screen Other Taxable Income, enter a description and the amount.
  • Click Continue

The entry will be reported on line 8z of Schedule 1 of the Federal 1040 tax return.