After you file

Report Form 1099-MISC as received in Less Common Income as Miscellaneous Income. This will not subject the income to self-employment tax.

If this is for free stock, then if the stock was subsequently sold, the basis in the stock should be adjusted. If proceeds captured on Form 1099-MISC are already reported in the Investment section, it is allowable to zero out this reporting.

To do this in TurboTax, follow these steps:

Step 1 and 2:

1. From the left menu, select Federal.
2. At Wages & Income, scroll all the way down to Less Common Income and click Show More.
3. Select the last listed option for Miscellaneous Income 1099-A, 1099-C, click Start.
4. Next, select the last listed option Other Reportable Income.

1. Did you receive any other taxable income? click Yes.

1. Other Taxable Income: Enter your description including the name of your broker, such as Robinhood, and Form 1099-MISC as received, the amount and click Continue and Done.
   1. Disregard the comment "Do not enter income from Form 1099-MISC here" because this is meant to guide taxpayers reporting typical 1099-MISC income. Your case is less common and this is how to report it in TurboTax. 
2. Select Add Another Income Item.
   1. For description, enter Form 1099-MISC reported on Schedule D.
   2. For the amount, enter the same number on Form 1099-MISC as a negative amount. For example, if the first entry was for 10, then the offset would be -10.

Step 3:

1. Click Income & Expenses, the first tab across the top, on the left inside TurboTax.
2. Scroll down to Investment income and Show More.
3. At Stocks, Mutual Funds, Bonds, Other (1099-B) or Cryptocurrency, wherever these details were uploaded or entered, select Revisit.
4. If this transaction is not already added, select Add more sales. Otherwise, select Edit/Review to adjust the Proceeds from Sales and Cost basis from sales for this transaction.

For more information, see:

5 Things You Should Know about Capital Gains Tax - TurboTax Tax Tips & Videos

How is cryptocurrency like Bitcoin taxed?

@Bp15

If the return has not been filed, it is ok to delete the prior import and re-upload the corrected import.

However, if you have filed, then you must delete the corrected import, and re-import the incorrect import so that your tax return is returned to the original filing. This is essential so that Form 1040-X is prepared with the original filing in Column A, the change in Column B, and the updated return in Column C. This form will not be ready for another few weeks, but you can begin the amendment while you wait. Click the link for the most recent information about when Form 1040-X will be available.

• After the return is restored to the originally filed status, then begin the amend(change) return process. 
  • To file an amended return, open your return. It will be at your Tax Home.
    • Scroll down to find Your tax returns & documents and Show.
    • Click 2020 and Amend(change).
      • For more details, see: How do I amend my 2020 TurboTax Online return?
  • Only after the amendment has been triggered, then delete the incorrect import. Re-import the corrected information.
    • To delete forms, follow these steps:
      • ​​​​​​​From the left menu, select Tax Tools.
      • Select Tools.
      • Scroll to Delete a Form.
      • Scroll to Form 1099-B and select Delete and Delete Selected Form and Continue.
        • ​​​​​​​Do this one at a time for any corrected forms.
      • Scroll to the bottom of the next window and select Continue With My Return.

@jdoan