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Retirement tax questions
There is a way to report it so it doesn't report as Schedule C income.
- Go to federal
- Wages and income
- 1099-Misc and other common income
- income from 1099 MISC
- As you answer questions from the screen, you will indicate that this isn't like your main Job and there was no intent to earn money.
- If answered correctly, the income will appear as other income on line 8Z on Schedule 1 and then recorded on line 8 of your 1040 as other income.
If this is done correctly, it will not be reported as Schedule C income.
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March 20, 2024
11:40 AM