You can enter the 1099-MISC in TurboTax as "Other Common Income," which is reported on line 8 of 1040 Schedule 1 and will not generate Schedule C or SE tax. Please use the following steps:
- Click on Federal > Wages & Income.
- Scroll down to the Other Common Income section.
- Click on the Start/Revisit box next Form 1099-MISC.
- On the screen Did you get a 1099-MISC? click on the Yes button.
- On the next screen, Let's get the info from your 1099-MISC, enter the information from the 1099-MISC.
- On the following screens, answer the following questions:
- Did it involve work that's like your main job? No.
- You got it in 2020
- No, it didn't involve an intent to earn money
7. Continue through the rest of the interview screens. The income will appear as Other Income.
@19332512csb
TurboTax Business will import information only from QuickBooks; it will not import 1099s from any financial institution. TurboTax personal income tax preparation products can import 1099s but those products do not support the preparation of income tax returns for entities, such as corporations.
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