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Why is TurboTax trying to get me to enter business information? 1099-Misc for GM retirees portion of legal service if needed. It is not a business, I did't received $$.?
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June 4, 2019
4:31 PM
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Business & farm
When entering your 1099-Misc be sure to indicate that the income was 'not like your main job' and with 'no intent to earn money'.
See attached screenshots.
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June 4, 2019
4:31 PM
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OUR INSTRUCTIONS FROM GM SAY THAT IT SHOULD GO AS OTHER INCOME ON SCHEDULE 1 AND THAT WE MIGHT HAVE TO PAY SOCIAL SECURITY AND MEDICARE TAX ON IT
February 7, 2020
10:18 AM
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If you simply enter the 1099 MISC that is exactly what will happen. Tell TurboTax that you do not have any expenses to report. You will end up with Other Income on Schedule 1 and you will have Social Security and Medicare taxes due on it.
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February 11, 2020
11:34 AM