Self employed

ThomasM125 · ‎March 21, 2024

You can report the income as "Other" income, as mentioned by @Bsch4477, then enter a negative adjustment to income to credit it back off of your return.

You can make that adjusting entry in TurboTax as follows:

1. From the Federal menu in TurboTax find Wages and Income

2. Find Less Common Income

3. Choose Miscellaneous Income, 1099-A, 1099-C

4. Choose Other Reportable Income

5. Enter a description of the adjustment (mis-reported income for instance) and the adjustment as a negative number

Choose the situation for the payment stating that the money is not earned as an employee or self-employed person so it will show up as "Other" income on your tax return:

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