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Retirement tax questions
I am still confused about this item; issue came up last year also (and will for the next 5 years). So I have this 1099-MISC from eversource representing payments I receive for solar energy generation credits (on top of the net metering impact). It's not a business, it is the SmartSolar program in Massachusetts where they pay an extra incentive on your solar generation.
It asks to describe the reason and I type in "Massachusetts SmartSolar rebate program"
none of the uncommon situations appear to apply
Did [reason] involve work that's like my main job? No.
How often did I get income...? Every year checked and next year.
"Guess what, you can deduct expenses..."
Let's confirm the reason. OK, checked the radio button and continue.
Did I get another 1099-MISC for [reason]? No.
Did I get cash or other income from [reason]? leaving it blank and clicking continue.
Did one of you get a 1099-MISC for a different reason? What? No.
OK, done.
Now it says good news, I may qualify for addiontal deductions.
Then back to income summary.
Now the amount shows up as "Sole Proprietor Business" on my income summary.