To avoid the questions regarding the amount entered in box 3 of the Form 1099-MISC, do this:
- Select Personal Income or Wages and Income
- Click the I'll choose what I work on button
- Scroll to Other Common Income
- Click Start next to Form 1099-MISC Enter your
Form 1099-MISC income exactly as shown on your form. Your
entries should mirror the form 1099-MISC.
- Enter "Elder Stipend" as the reason,
- Click Continue
- Check None Apply from the uncommon situation list
- Continue
navigating through the prompts
- Select "No" to questions regarding work
and earned money, then Continue
Your entry will appear on line 21 of the Form 1040 Schedule 1 as "Other Income."
If your Form 1099-MISC box 7 is checked, you will need to report the income on the Form 1040 Schedule C or C-EZ because you are being considered an independent contractor. You are also able to claim any out-of-pocket business expenses that are related to your catering job. You should claim them no matter how minimal the amount to reduce your net income.
To enter the amount in the Schedule C, do this:
- Type Schedule C in Find
- Click
the Jump to link
- Navigate
through the program to begin entering your income and expenses
You income will appear on line
12 of the Form 1040 Schedule 1.
