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Get your taxes done using TurboTax
Enter Brokerage Account Reward on 1099-MISC:
- Open your return.
- Click on Federal tab
- Click on Wages & Income.
- Click on Other Common Income.
- Click on Start next to Income from Form 1099-MISC
- Enter 1099-MISC information (Box 3).
- Enter Description for Reward. Something like Brokerage New Account Reward See image below.
- On Does one of these uncommon situations apply? page, Select None of these apply.
- Did the <description> involve work that's like your main job? Answer No, Continue.
- How often did you get income for <description>? Answer I got it in 2023., Continue.
- Did the <description> involve an intent to earn money? Answer No, Continue.
- Answer No to Do you have another 1099-MISC? Continue.
This income will show up on Schedule 1, Line 8z, with your description next to it. It will carry forward to your 1040 form, Line 8.
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March 28, 2024
9:53 AM