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1099-misc for Student Loan Repayment
My wife's employer is paying towards her student loans for her. We received a 1099-misc from the employer which we believe is for the amount that they payed in student loan repayment. My understanding is that we will owe taxes on this amount. My question is after I enter the 1099, turbo tax asks if this was for work like her main job. If I answer yes, during the final review turbo tax wants to know information about my wife's business since it thinks the 1099 was for a personal business but it was from her employer and she does not have a business. The only way around this that i found is to say that the 1099 did not involve work like her main job but i am not sure if this is true. Any help on how to enter this information?
‎February 18, 2020
6:46 PM