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Get your taxes done using TurboTax
We are working with TurboTax here, not Proconnect, so I can only tell you that in TurboTax you would enter that as a negative "other" income amount on line 8(z) in Part I of Schedule 1. Here would be the procedure:
1. From the Federal menu in TurboTax find Wages and Income
2. Find Less Common Income
3. Choose Miscellaneous Income, 1099-A, 1099-C
4. Choose Other Reportable Income
5. Enter a description for the adjustment and the amount as a negative number
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March 31, 2025
10:56 AM