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In my last year's tax return I see Schedule 1 Line 8 has an entry for "Other Income". This year too i have the same category of income but don't know how to enter it.
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Business & farm
"Other Income" is income that is not wages, rent, investment or other typical types of income. Without knowing what you are reporting I can't be too specific, but in general you would report it by going to the Less Common Income section in TurboTax by using the following menu tabs:
- Federal
- Income and expenses
- Less Common Income
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Business & farm
Thanks for your response. My apologies for the delay. I was checking for responses in another email account. I want to be consistent with my last few years of Returns which was filed by a CPA. This year I am doing it myself. My CPA's return copies have entries in Schedule 1 Line 8 for the last few years. I have the same scenario this year too and I am filing it myself. Hence can you tell me where to enter info in Turbo Tax that would populate line 8 of Schedule 1?
Thanks again
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Business & farm
The schedules have changed for the last couple of years. Line 8 is for Other Income. Is there a description for it on last year's return? What other income do you need to enter? You should know what you have.
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The description my CPA had entered was "Other Foreign Unearned Income and Foreign tax refund" He has two lines in Line 8
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You can list 2 line items in the Miscellaneous Income section, Other Reportable Income. Do one line item for each and you can use the same descriptions she used in the past. The easiest one to get to that section is to use the search feature up top. Type in other reportable income (3 words), hit enter and use the Jump to other reportable income link to be taken to the correct screen. Answer NO to the first question about wages - and you will see a list of topics. Scroll to the bottom and click Start or Revisit next to the last category - Other reportable income.
Enter the first one, then click on +Add another Misc. income item. Then add the second. Those entries will show up on Line 8 on your Form 1040.
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