Last year I received a payment for transferring my accounts from one investment company to another. When I did an import from the investment company into Turbotax Premier, the payment showed up in the 1099-MISC Summary under Wages&Income. Turbotax asked the reason for the 1099-MISC and I wrote in the transfer bonus as the reason. In a later pages: I answered No, it didn't involve work. Only received it in 2024. Yes, involved an intent to earn money. After that, Turbotax is saying I can deduct expenses for the bonus ????? Next, it asked me confirm the reason which I did. I answered the rest of the questions. with no. After I press the Done button, the payment shows up as Business Income ????? Later when I run Smart Check, I get several errors involving Schedule C (Profit or Loss from Business) for which I am at not sure how to answer. I am retired and never had my own business, so don't know why Turbotax is doing this. Please advise.
