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Get your taxes done using TurboTax
This income is not business income, rather miscellaneous as indicated by your Form 1099-MISC. It's not because of a service you performed.
- Use the Search box (upper right) then type 1099misc > click Jump to....
It's important for you to select 'None of these apply" and then you should also select the following:
'No' on the screen 'Did the '____' involve work that's like your main job?'
'No' on the screen 'Did the '____' involve an intent to earn money?'
This will report the income without any business activity and it will show up on Form 1040, Line 8 (From Schedule 1, Line 8z).
You can use the Preveiw My 1040 to see the income on the appropriate lines of your return.
- With the Tax Tools menu open, you can then:
- View only your 1040 form: Select Tools. Next, select View Tax Summary in the pop-up, then Preview my 1040 in the left menu.
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‎January 23, 2023
10:51 AM