Thank you for the suggestions. @ThomasM125
From 'Wages and Income' I see 2 options where we can report 1099-NEC
- Self-Employment (schedule C) which we don't want
- Other Common Income: This sounds right.
But going option 2: I dont see the highlighted option you mentioned. I see only this
- Self employment income
- farm income
- hobby
- lawsuit settlement
- medicaid waiver payments
- income should have reported on W2
Could you please let me know how to get to that screenshot you shared?
Also, to avoid taxation, can't I use that amount towards 'rental expense' and deduct? (instead of 'other income' as negative number). Wonder what's the difference between the two. May be I can't deduct the entire amount if i use as rental expense.
