What if my 1099-Misc only contains my commission, not the entire sales proceeds? Where do I show the entire proceeds in my Business section?

When I enter the 1099 amount (commissions) and then the change in inventory (COGS) in the Business section, it shows I have a loss because the 1099 I received only represents the commission, not the entire sales proceeds. How do I enter this in the Business section?

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1 Best answer

New Member

Jun 1, 2019 5:26:40 AM

As long as your total income exceeds your 1099-MISC, you don't even need to enter your 1099-MISC to claim your income. Since you entered it already, you can claim the balance of the sales proceeds in the Additional Income category.

(See the attached screenshots below. Click to enlarge.)

While you are signed into your TurboTax account you can use the steps below to enter your business income.

Select Federal on the black navigation bar, then select Income and Expenses at the top

For TurboTax Desktop you will scroll to Business Items and select Business Income

Select Self Employment Income and Expenses (you may have to scroll to select this)
Select edit/add or review
Proceed to enter your income and expenses for this business

New Member

Jun 1, 2019 5:26:40 AM

(See the attached screenshots below. Click to enlarge.)

While you are signed into your TurboTax account you can use the steps below to enter your business income.

Select Federal on the black navigation bar, then select Income and Expenses at the top

For TurboTax Desktop you will scroll to Business Items and select Business Income

Select Self Employment Income and Expenses (you may have to scroll to select this)
Select edit/add or review
Proceed to enter your income and expenses for this business

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What if my 1099-Misc only contains my commission, not the entire sales proceeds? Where do I show the entire proceeds in my Business section?