1099-Misc Royalties from Robin Hood

Forum|Forum|5 years ago
February 22, 2021
1 reply
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So I Imported my 1099's From RobinHood, one of them was a 1099-Misc saying I had earned $0.33 in Royalties. Turbotax is insisting that this can only be from "Investment income from property you own" or "Royalty income from your business, including artist royalties or operating a natural resources business" neither of which applies in this case. The first option insists I do a form E and enter info on the business I own which I don't, the 2nd insists I start a Form C for the Business I own, which I don't.

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Best answer by Nachoha

I Just changed the .33 to 0 and it let me proceed.

ErnieS0

Level 15

Delete the 1099-MISC. You do not have to report it. The IRS says to round off numbers, drop amounts under 50 cents and increase amounts from 50 to 99 cents to the next dollar. For example, $1.39 becomes $1 and $2.50 becomes $3.

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NachohaAuthor

Level 2

It won't let me. Because I did the Auto-Import from Robin Hood it gives me a "Form Not Reported" and starts walking me through the above problem. The 1099-Misc is not listed anywhere for me to delete.