I don't think this is true all the time. If you own certain ETNs they will send you a 1099-MISC. If you file Sch C in three years your city may declare you a delinquent business owner with didn't pay for a business license and hit you with fines, fees and retroactive business licenses for your non-existent business enterprise. I went through this last month with San Jose.
Turbo Tax can file the income as "other income" directly on your 1040 if you answer the questions correctly but TT tries to guide you to file a Schedule C. Save your work before you work on the 1099-MISC and try entering "other income". If it creates Sch C exit without saving and start over. Maybe an Employee expert can tell us how to do this right the first time. I did it last night but don't remember how now.
