LeonardS
Expert Alumni

Get your taxes done using TurboTax

To enter your mortgage grant follow these steps.

  • With TurboTax open select  Wages & Income.
  • Scroll down to Less Common Income and select Miscellaneous Income, 1099-A, 1099-C
  • On the next page, select Other reportable income
  • On the page, Other Taxable Income enter Mortgage Grant in the description. 

This will put the income on Schedule 1 Line 8 of your  Form 1040, as required by the IRS.  You will pay state and federal income tax on the amount, but it will not be subject to self-employment tax.

 

If you have entered the 1099-MISC for the mortgage grant you will have to remove it from your tax return.

 

To delete Form 1099-MISC follow these steps:

  • With TurboTax open select Tax Tools in the left panel.
  • Select tools
  • Select delete forms
  • Select delete on the line for Form 1099-MISC
  • Select  Delete Selected Form

 

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