My wife and I own a multi-member LLC and received a 1099-MISC with only a value in Box 3. How do we report this on TT Business? Form 1065.

[juarez-27]

We received a 1099 MISC from the organization that gave us the money. Odd in our opinion, but whatever.

Regardless, we are having troubles with the TurboTax Business software. It's confusing on where to enter this income. We know with a normal 1099 in TT home, there's a section for it AND it asks for the payer TIN, etc.

But on TT Business it's not there. How do we proceed?

[Ashby · Accepted solution]

You just enter it as income. You do not specifically have to enter the 1099-MISC, just make sure you have enough income entered to cover the 1099.

So, if you are entering your income off of a profit and loss/income statement and the income from that 1099 is included in those figures, you do nothing with the 1099.