You can enter the SPIFF in TurboTax by entering it as "other income" so that it will be reported on Schedule 1, line 21, with a description that you create TurboTax versions vary, but you should be able to navigate using these basic instructions.
- Click the Federal tab.
- Click Wages & Income.
- Select "I'll Choose What to Work On."
- Under "Less Common Income," click "Miscellaneous Income, 1099-A, 1099-C."
- On the next screen, click "Other reportable income."
- The next screen asks, "Any Other Taxable Income?" Click Yes.
- On the next screen, "Other Taxable Income," enter "Manufacturer incentive payment" as the description. Enter the amount and click Continue.
- On the next screen click Done.
You can enter the 1099-MISC in TurboTax as "Other Common Income," which is reported on line 8 of 1040 Schedule 1. Please use the following steps:
- Click on Federal > Wages & Income.
- Scroll down to the Other Common Income section.
- Click on the Start/Revisit box next Form 1099-MISC.
- On the screen Did you get a 1099-MISC? Yes
- Enter the information from the 1099-MISC.
- On the following screens, answer the following questions:
- Did it involve work that's like your main job? No.
- You got it in 2020
- No, it didn't involve an intent to earn money
You would still characterize it as enter "Manufacturer incentive payment" as the description.