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1099 misc
My husband and 3 others were chosen to start a start-up. My husband left his employer and became an employee of the start-up and also owned a 1% share. In 2019, the start-up let my husband go so he went back to work for his former employer. He retained his 1% ownership share in the company. In 2020, the startup was purchased by another company. My husband had to sign off on the sale and he netted a portion and received a 1099. He didn't work for this company after he was let go in 2019 and had no say on the sale beyond signing off. I know I enter the income as other income but it wants to make him self employed where we pay that tax too. What is the correct way to enter this 1099 income since he was not self employed?
‎February 9, 2021
12:00 PM