The only other option is to zero it out with a negative entry, but you may receive a communication from the IRS and you will have to explain what happened. Enter the 1099-MISC and then back the amount out with other income.
To enter a 1099-MISC for miscellaneous income in TurboTax:
- Open or continue your return
- Search for 1099-misc and select the Jump-to link
- Answer Yes to Did you get a 1099-MISC?
- If you already entered a 1099-MISC, you'll be on the 1099-MISC Summary screen, in which case you'll select Add Another 1099-MISC
- If you need to edit or delete a previously entered 1099-MISC, select the appropriate button
- Enter the info from your form into the corresponding boxes
- If you need to enter boxes 4–6 or 8–17, check My form has other info in boxes 1–17 to expand the form
Boxes 1 and 2 missing from your 1099-MISC screen? Go back to the main 1099-MISC screen using the steps above.
Other Income (negative entry)
- Federal Taxes ->
- Wages & Income ->
- I'll choose what I work on -> scroll to the bottom and under
- Less Common Income select Start (or Update) for
- Miscellaneous Income
- Other reportable income and you can enter your own description(s) and amount(s).
