We receive 1099-Misc. forms for the retiree benefits our university provides--insurance, meal discounts, etc. TurboTax has always entered these as Misc. Income, but now is calling it a personal business, requiring Sched. C.
You'll need to sign in or create an account to connect with an expert.
Enter it as "Other Income" and not self-employment
Delete the 1099-MISC you entered and re-enter it this way:
DESKTOP
In the desktop program, start or open your return
Click FEDERAL TAXES
Click Wages & Income
Click "I'll choose what to work on" if needed
Scroll down to Miscellaneous Income, 1099-A, 1099-C (the last option) under "Less Common Income" and click Start
Scroll down to the last option "Other reportable income" and click Start
Answer "Yes" and Continue
Type "retiree benefits" into the description box and the amount.
ONLINE PROGRAMS:
Sign into your account, your return, and click "Pick up where I left off”
Click Federal
Click Wages & Income
Get to All Income and scroll down to Less Common Income and click Show more
Scroll down to Miscellaneous Income, 1099-A, 1099-C and click Start
Scroll down to Other reportable income and click Start
Type Retiree Benefits into the description box and enter the amount
Click Done
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
brcrump
Level 2
D33zTaxes
Level 1
usncamolove
New Member
loganjroy23
New Member
kappytax
Level 2