Phillip1
New Member

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:

  1. Go to the Federal Taxes category.
  2. Go to the Wages and Income section.
  3. Choose the option "I'll choose what I want to work on".
  4. In the 2016 Income Summary, find the section labeled "Less Common Income"
  5. Choose the option Miscellaneous Income, 1099-A, 1099-C by clicking start or update.
  6. Click start on the line labeled Other reportable income.
  7. Click yes, you have other taxable income.
  8. Enter a description "Form 1099-MISC Book Royalty" (or whatever) and the amount.