You can enter this as miscellaneous taxable income.
To enter this miscellaneous income -
- Click on Federal Taxes (may say Personal if using Self Employed or Home and Business)
- Select Wages and Income
- When the page opens, click "Jump to full list” if it is not displaying the full list of income items.
- Scroll down to the very last item, Less Common Income and click “Show More” to expand the list
- Select "Miscellaneous Income, 1099-A, 1099-C”
- Select “Other Reportable Income” - the very last item (There is another “other” category that is the first choice - do not use that one)
- Enter the income amount and a description and this will place the income on Line 21 of Form 1040