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Get your taxes done using TurboTax
The steps @MinhT1 outlined above are the proper way to report this income without being charged any additional self-employment tax. It sounds like you are in the 24% tax bracket, which you can verify by finding your income and filing status in the tax tables.
You can also verify it is being reported properly by previewing your 1040:
- Open or continue your return.
- Select Tax Tools in the left menu (if you don't see this, select the menu icon in the upper-left corner).
- With the Tax Tools menu open, you can then view your 1040 form: Select Tools. Next, select View Tax Summary in the pop-up, then Preview my 1040 in the left menu
- Scroll down until you see Form 1040 Schedule 1 Line 8z for Other Income.
‎February 16, 2022
11:35 AM