@katherrera9
Most likely your income will be in Box 3 of the form 1099MISC you will receive from the bank. You are not required to pay Self-Employment taxes on this amount. So, follow the instructions below that applies to your situation.
It depends what type of miscellaneous income you are referring to. Was it reported on a 1099-Misc?
Box 3
- Click on Wages and Income
- Continue and I'll Choose What I Work On
- Scroll down to Other Common Income
- Next to "Income from Form 1099-MISC", click the start (or update) button
- Enter the amounts and information from your 1099-MISC
Box 7
To Enter Form 1099-MISC:
1. Select "Business" at the top of the screen
2. Choose "Continue", then "I'll choose what I work on"
3. Select "Start" next to "Business Income and Expenses"
4. Select "Edit" next to your business name
5. Scroll down to “Business Income” and select “Start”
6. Now select "Start/Update" next to "1099-MISC Income"
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