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aoc2
New Member

I have a 1099-MSC for an honorarium payment & turbo tax keeps classifying it as "sole proprietor business". I don't have a business. What should I do?

I listed the miscellaneous info in the "Income from form 1099-MISC" but the income is not noted on that line and was instead placed under Business Income by turbo tax and I feel that is incorrect.  But not sure how to fix it since I've deleted and re-entered the info several times and it keeps doing the same thing.  

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1 Best answer

Accepted Solutions
MichaelMc
New Member

I have a 1099-MSC for an honorarium payment & turbo tax keeps classifying it as "sole proprietor business". I don't have a business. What should I do?

You are correct. This should appear on Schedule 1 (Form 1040), line 21 as Other Income.

Before you begin, make certain that you have deleted your most recent attempt at entering the 1099-MISC information.

Reporting 1099-MISC that is not self-employment income

Under the Wages & Income tab (or Personal Income tab in TurboTax Home & Business) scroll down to Other Common Income.

Select the start/update button next to 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, honoraria, etc. Click Continue.

Select None of these apply, then Continue.

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

Select ONLY the tax year for which this specific Form 1099-MISC was issued. Do not select the year that you received the 1099. Select the year for which the 1099-MISC was issued. Click Continue.

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

Select No, then click Continue.

Click the DONE button, and that does it.


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1 Reply
MichaelMc
New Member

I have a 1099-MSC for an honorarium payment & turbo tax keeps classifying it as "sole proprietor business". I don't have a business. What should I do?

You are correct. This should appear on Schedule 1 (Form 1040), line 21 as Other Income.

Before you begin, make certain that you have deleted your most recent attempt at entering the 1099-MISC information.

Reporting 1099-MISC that is not self-employment income

Under the Wages & Income tab (or Personal Income tab in TurboTax Home & Business) scroll down to Other Common Income.

Select the start/update button next to 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, honoraria, etc. Click Continue.

Select None of these apply, then Continue.

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

Select ONLY the tax year for which this specific Form 1099-MISC was issued. Do not select the year that you received the 1099. Select the year for which the 1099-MISC was issued. Click Continue.

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

Select No, then click Continue.

Click the DONE button, and that does it.


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