Use Schedule C (Form 1040) to report income or loss from a business you operated or a profession you practiced as a sole proprietor. An activity qualifies as a business if:
- Your primary purpose for engaging in the activity is for income or profit.
- You are involved in the activity with continuity and regularity.
This is a loose definition on what the IRS requirements are for filing a Schedule C as these definitions apply to earned income rather than passive income earned from investment income.
No, do not input this as a 1099 INT because this will not match the 1099 MISC that the IRS has on record.
@mattmouth182
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