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Linda got a 1099-Misc as a volunteer participant in a research study on kidney medication
Linda received a 1099-MISC listing $1560 for being a volunteer participant in Mayo Foundation Medical Research Study on kidney medication. How do I report it on my 2016 tax form?
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May 31, 2019
7:30 PM
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Which box of the 1099-MISC is the $1,560 in?
Who is Linda? Your spouse? Your dependent? We can't see your tax return.
Who is Linda? Your spouse? Your dependent? We can't see your tax return.
May 31, 2019
7:30 PM
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Linda is my spouse. The $1560 is in box #3 Other Income
May 31, 2019
7:30 PM
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Here's how to enter a 1099-MISC with income in box 3 in TurboTax.
- Click the Federal Taxes tab.
- Click Wages & Income.
- Click "I'll choose what I work on" or "Jump to a full list."
- On the screen "Your 2016 Income Summary," scroll down to the section "1099-MISC and Other Common Income." Click the Start button for "Income from Form 1099-MISC."
- The next screen asks "Did you get a 1099-MISC?" Click Yes.
- On the next screen enter the information from the 1099-MISC form, then click Continue.
- TurboTax will now ask a series of questions about the 1099-MISC income. Answer as follows, even if some of the answers aren't true.
- "Describe the reason for this 1099-MISC." - It doesn't matter what you enter. Enter a short description such as "Research Study." Click Continue. You will see this description used in some of the subsequent questions.
- "Does one of these uncommon situations apply?" - Select the last choice, "None of these apply," and click Continue.
- "Did the Research Study involve work that's like your main job?" - Select No and click Continue.
- "How often did you get income for Research Study?" - "I got it in 2016" will already be checked. Don't check any of the other boxes. Just click Continue.
- "Did the Research Study involve an intent to earn money?" - Select No and click Continue.
This will report the income as Other income on Form 1040 line 21 with the description "Other Income from box 3 of 1099-Misc."
May 31, 2019
7:30 PM