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Investors & landlords
If the 160 dollars is all of the income reported on Form 1099-MISC, you would not have Self-Employment Tax (If SE income is under 400 dollars, the taxpayer will not have to pay SE tax).
I recommend doing the following:
- Go to the Federal Taxes category.
- Go to the Wages and Income section.
- Choose the option "I'll choose what I want to work on".
- In the 2016 Income Summary, find the section labeled "Less Common Income"
- Choose the option Miscellaneous Income, 1099-A, 1099-C by clicking start or update.
- Click start on the line labeled Other reportable income.
- Click yes, you have other taxable income.
- Enter a description "Form 1099-MISC Book Royalty" (or whatever) and the amount.
‎June 6, 2019
3:15 AM