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tul1p56
New Member

Why does my 1099-misc box 7 (compensation for Trust Administration) only appears in Schedule C?

Also used code 999999 and do not have any expenses.  This is not part of my usual work and less than 50 hours were used during the year to do Administration for the Trust.

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1 Reply
Carl
Level 15

Why does my 1099-misc box 7 (compensation for Trust Administration) only appears in Schedule C?

It doesn't only appear in SCH C. It was put in SCH C because of the way you entered it, is all.

Reporting 1099-MISC (box 3 or box 7) that is not self-employment income

Under the Wages & Income tab (or Personal Income tab) scroll down to Other Common Income and elect to start/update Income from form 1099-MISC. Then click YES to indicate you have a 1099-MISC.

Enter the 1099-MISC exactly as printed, and then Continue.

Enter the reason you got this money – be it scholarship, bonus, streaking butt naked across the 50 yard line of the super bowl, whatever. Then continue.

Select None of these apply, then Continue.

Select No, it didn’t involve work….. and Continue.

Select ONLY the tax year for which this specific 1099-MISC was issued. Do not select the year that you received the 1099. Select the year for which the 1099-MISC was issued. Select no other year. Then Continue.

Select No, it didn’t involve an intent to earn money, then Continue.

Select NO, then Continue.

Click the DONE button, and that does it.


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