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Get your taxes done using TurboTax
Reporting it on Schedule 1, 8z is accurate. This is other income not subject to self-employment.
It sounds like you followed the correct way to enter it:
Income from a health study is 'Other Income' and is not subject to self-employment. The amount will be in box 3 of your 1099-Misc.
Take the following steps:
- Sign in to TurboTax Online, click Continue your return, then pick up where I left off (if you are using TurboTax CD/ Download, then just open your return on your computer);
- Click on Federal Taxes at the top of the screen;
- Scroll down the page to the last section titled: 1099-Misc and Other Common Income;
- Select start or update next to the topic titled Income from Form 1099-Misc;
- Answer Yes, to the questions Did you get a 1099-Misc?;
- Enter the information from your 1099-Misc;
- Enter Medical Study for a reason for the 1099-Misc;
- For uncommon situations, select [Name] was in a research study and this was the payment;
- You will then be asked if you perform a service to earn the money, say No.
- If you entered this any other way, make sure to delete the other entries.
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March 28, 2024
1:23 PM