KrisD15
Expert Alumni

Business & farm

If the payment was for "Services performed" it should be reported as Self-Employment income and you would be subject to Self-Employment tax (FICA). 

 

If you want to enter the dollar amount as "Other Income to be reported on Schedule 1, that is fairly easy to do. If you are seeing selection choices for HSA and Prize winnings, you are in the wrong section.

 

Under Personal Income or Wages & Income (depending on the program)

Select "I'll choose what to work on" if necessary. 

Select "Show More Income" if necessary since you want the very last category. 

Scroll down PAST OTHER COMMON INCOME to the very last option titled "LESS COMMON INCOME"

Under Less Common Income scroll down to the VERY LAST option titled "Miscellaneous Income, 1099-A, 1099-C"

Again scroll down to the VERY LAST option titled "Other reportable income" and START

The next screen only asks for 

Description

Amount for you or your spouse if filing Married Filing Jointly.

Continue and Done. There are no additional questions concerning this income. 

It is entered on Schedule 1 and carried to the 1040. 

 

 

 

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