These types of payments received in the auto
industry are known as a SPIFF (Special Performance Incentives for Field Force)
and are typically received directly from the manufacturer.
To properly enter and
report a SPIFF in TurboTax Desktop, please follow the instructions below:
- Open your return
- In the Search box on
the upper right corner, enter 1099misc
- Select the “Jump to”
link found in the search results
- Here you will enter
your 1099-MISC by following the onscreen instructions
- On the next screen,
enter SPIFF in the blank box
- On the list found on
the next screen, check “This was a Manufacturer’s Incentive Payment”
Following these
instructions will place your SPIFF on Line 21 of Form 1040.
