Retirement is not self employment income and even though it is reported on a Form 1099-MISC it can be reported using the following steps so that it is taxed once and will not include a Schedule C in your return.
- Enter the 1099-MISC in the Other Common Income section Search (upper right) then type 1099misc > enter > Click the Jump to ...
- For the description, enter "EMS Retirement Benefits", that it does not involve work like your main job, and that it did not involve an intent to make money, is not a recurring payment (received in the past or expected in the future).
- Yes, it may be recurring but this is the proper way to report 1099-MISC "retirement payments" without having it treated as self-employment/business income.
- To remove the Schedule C go to the Search (upper right) then type schedule c > enter > Click the Jump to ... > click the trash can to delete.
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