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Investors & landlords
You need to delete the Schedule C completely (use instructions in that link) and delete the 1099-MISC entry that created it (don't try to edit it, it won't work). After you get rid of the 1099 and the Schedule C, re-enter the 1099-MISC, but make sure you answer the follow-up questions as instructed below. If you enter it like this, the income in box 3 will go to Schedule 1, Line 8 and it will be included in ordinary income on your tax return and will not require the business info. But you have to delete the entire Schedule C and 1099 form you started BEFORE you can enter it correctly.
Go to Other Common Income
Income From 1099-MISC
Answer YES
Enter the Payer name, Fed ID #, and Box 3 amount
Description > imputed income or something similar
None of these apply
No - doesn't involve my main job
I got it in 2022 - - Mark only this box - you should only have 1 checkmark on this screen
No - doesn't involve the intent to earn money
Done - no schedule C required
You should verify that you do not owe Self-Employment tax on this income. If this is considered ''earned income'', social security and medicare tax (FICA and SE tax) are owed.
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