Yes, you will need to report the 1099-MISC on your return. The income is considered taxable on the federal return and state return. To enter into TurboTax, follow these steps:
- Click on Federal > Wages & Income
- In the Less Common Income section, click on the Start/Update box next to Miscellaneous Income, 1099-A, 1099-C
- Click the Start/Revisit box next to Other reportable income on the Miscellaneous Income screen.
- On the Any Other Taxable Income? Screen, click the Yes box.
- Enter the income on the Other Taxable Income screen and a description. Click Continue.
- You will be brought to the Other Miscellaneous Income Summary. If you have no more miscellaneous income to report, click Done.
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