Irene2805
Expert Alumni

Get your taxes done using TurboTax

Yes - You can report the residuals as Miscellaneous Income, using these steps:

  1. Click on Federal > Wages & Income   
  2. In the Less Common Income section , click on the Start/Update box next to Miscellaneous Income, 1099-A, 1099-C
  3. On the Let's Work on Any Miscellaneous Income screen, click the Start/Update box next to Other reportable income.
  4. On the screen, Any Other Taxable Income? click the Yes box. 
  5.  On the next screen, Other Taxable Income, enter a description and the amount.  Click Continue
  6. The amount entered will appear on line 7 of the 1040.