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Get your taxes done using TurboTax
You can report it as other income on Form 1040 line 21. Here's how to enter it in TurboTax.
- Click the Federal Taxes tab (Personal in the Home & Business version)
- Click Wages & Income. (Personal income in the H & B version)
- Click "I'll choose what I work on."
- On the screen "Your 2019 Income Summary," scroll all the way down to the last section, "Less Common Income."
- Click the Start or Update button for the last topic, "Miscellaneous Income, 1099-A, 1099-C."
- On the next screen, "Let's Work on Any Miscellaneous Income," scroll down and click the Start or Update button for the last topic, "Other reportable income."
- The next screen asks, "Did you receive any other taxable income." Click Yes.
- On the next screen, "Other Taxable Income," enter a description and the amount. Click Continue.
- On the next screen click Done.
The income will be reported on Form 1040 line 21 with the description that you entered.
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‎February 13, 2020
11:09 AM