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Get your taxes done using TurboTax
If the 1099-MISC income is for self-employed income, then no, you can't include it on Form 1040, Line 7. It should be reported on Form 1040, Schedule C Profit or Loss from Business.
If the 1099-MISC form is for scholarships and the scholarships exceed your education expenses, yes, the net amount will be included on Form 1040, Line 7.
If the 1099-MISC is one time income and not from self-employment, it is reported on Form 1040, Schedule 1, Line 21, not Line 7.
To enter your 1099-MISC income on Form 1040, Schedule 1, Line 21.
- Log on to TurboTax.
- Click on the blue Take me to my return button.
- On the left navigation bar, click on Federal.
- Click on the Wages & Income tab at the top of the screen.
- Click on All Tax Breaks or Add more income.
- Scroll down to Less Common Income. Click on show more.
- Click Start next to Miscellaneous Income, 1099-A, 1099-C.
- Scroll down to Other reportable income and click Start.
- On the Any Other Taxable Income? screen, click Yes.
- On the Other Taxable Income screen, add a description and the dollar amount.
- Continue with the onscreen interview until complete.
In TurboTax, to see a Preview of your form 1040:
- On the left navigation bar, click on Tax Tools then Tools.
- Under Tools Center, click on View Tax Summary
- On the left navigation bar, click on Preview my 1040 and scroll down to Schedule 1 – Additional Income and Adjustments, Line 21, Other Income.
- To get out of Preview my 1040, click on Back.
June 3, 2019
10:46 AM