Entering Commercial Fishing USDA Seafood Tariff Relief Payment

[m_heilala]

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

[KrisD15]

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". 

Please click to additional answer:

Additional Answer 

[AKAurora1]

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]

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]

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]

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