It won't, unless the compensation income is separately stated on your W-2. Thus, if you know the compensation income was not included on your W-2, you can add it as "other income" on your Form 1040. To enter this compensation income as other income, follow these steps:
- go to Income & Expenses,
- scroll down the page to the last item Less Common Income, select Miscellaneous income,
- then from the list select Other reportable income.
- you will have to enter the amount you earned plus a short description.
If you are using TurboTax Online, here are the steps to follow to preview your Form 1040 and see the amount on line 8:
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;
- Select Tools.
- Next, select View Tax Summary in the pop-up.
- Then Preview my 1040 in the left menu.
- Select Back in the left margin to return to the page where you left off.
@khuynh03
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