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Retirement tax questions
First question. Yes the IRS does require that you report all income whether you get a 1099-MISC or not. Margraretl was also correct. If your income is low enough you do not have to file.
The second issue is posting into TurboTax. Based on what you've told me you can post it like this:
- Enter your 1099-MISC [Continue]
- Describe the 1099-MISC [Continue]
- None of these apply
- NO it didn't involve work like my job
- How often did you get this income - I got it this year
- Was there an intent to earn money? NO
If all of that is true you will not be prompted to file a small business schedule
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‎February 6, 2020
9:56 AM