No, don't create a business. I suggest you delete the 1099-MISC you have entered, and anything that was created in the self-employment section and start fresh. Here is how to report the 1099-MISC:
- Navigate to Federal > Wages & Income > Other Common Income> Form 1099-MISC> Start or Revisit
- Enter the 1099-MISC as printed, Continue
- Describe the reason for this 1099-MISC: "Retiree health insurance subsidy" or similar.
- Select None of these uncommon situations apply, then continue
- Select No, it didn’t involve work that's like your main job and continue
- The next screen asks how often you get income from Retiree health insurance subsidy. Select only the year of this specific 1099-MISC, 2024.
- Next, select No, it didn't involve the intent to earn money
- Verify that the amount is now populated on Schedule 1, Line 8z "Other Income."
