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1099-MISC for investment income
I received quarterly payments in 2020 for a callable medium term investment product. The payer has listed them on 1099-MISC box 3 Other Income but Turbo-Tax insists on treating this as self-employment income, including creating self-employment forms and a self-employment tax liability (my taxes would otherwise be zero, I believe). Did the payer incorrectly list this income on 1099-MISC rather than 1099-B or 1099-INV, or is there a question I'm answering wrong about it in the TurboTax dialog? To be clear, I did no work to earn this, only invested a sum of my own money with JPMorganChase. I'm retired and had little other income than Social Security in 2020.
March 18, 2021
7:20 PM