Irene2805
Expert Alumni

Retirement tax questions

In order to contribute to a Roth IRA you have to have "earned income."  If you did not receive a W-2 or 1099, you can enter the income as Other Incomeusing these steps:

  1. Click on Federal > Wages & Income   
  2. In the Less Common Income section , click on the Start/Update box next to Miscellaneous Income, 1099-A, 1099-C.  
  3. On the Miscellaneous Income screen, click on the Start/Revisit box next to Other income not already reported on a Form W-2 or Form 1099. 
  4. On the Any Other Taxable Income? screen, click the Yes box.
  5. Enter the income on the Other Taxable Income screen, along with a description and click Continue
  6. You will be brought to the Other Miscellaneous Income Summary.  If you have no more miscellaneous income to report, click Done.

[EDITED 2/11/2021  12:01pm PST]

 

@liveforflying