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Get your taxes done using TurboTax
You can either subtract the amount for the 1099-MISC entry, or add it as a negative Miscellaneous income (preferred). Hopefully the IRS will require the issuers to report the taxable amount next year.
Under Less Common Income select Miscellaneous Income, 1099-A, 1099-C
- On the Let's Work on Any Miscellaneous Income page, select Start to the right of Other reportable income
- On the Any Other Taxable Income? screen, select Yes
- On the Other Taxable Income screen enter the description "1099-MISC PFL Adjustment RR25-04" then the amount as a negative. Select Continue
- On the Other Miscellaneous Income Summary screen, select Done
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March 18, 2025
3:07 PM