KrisD15
Expert Alumni

Investors & landlords

Yes, the IRS will be looking for that 1099-MISC

 

I suggest you enter the 1099-MISC then enter a subtraction. 

Describe the subtraction as "1099-MISC Income reported twice" or something to that effect so that the IRS trace it. 

 

Enter the 1099-MISC and do not link it as self-employment

 

Now enter a subtraction

Go back to the Wages & Income section

 

Scroll down to the VERY LAST option "Less Common Income" and click Show more

On this new drop-down list scroll down to the VERY LAST option "Miscellaneous Income" and click Start

Now scroll down to the VERY LAST option "Other reportable income" and click Start

Select YES on the "Any Other Taxable Income?" screen

Type "Income reported twice" and the same amount you entered before but as a NEGATIVE (put - in front of the number)

This NEGATIVE number should show on your 1040 line 8 and cancel the double reporting of that income. 
 Keep everything with your tax file. 


 

 

 

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