1099-Misc for Company Stock Buy Back

[Charlotte1512]

The Company from which I retired issued a 1099-MISC for nonemployee compensation (Box 7) for stock buyback of Company stock issued to me while I was employed with this privately held Company. Where & how do I report this income on the 1040?  If I enter this in the 1099-MISC section, it links me to Schedule C.   As this is not income from self-employment , Schedule C does not apply.   Should this be entered as Less Common Income, Miscellaneous Income?   Or should it be considered investment income even though I received a 1099-MISC and not a 1099-B?

[MarilynG1 · Accepted solution]

Report your 1099-Misc under 'Other Common Income', and '1099-Misc'.

Indicate that this income was 'not your regular job' and you had 'no intent to earn money' (screenshots). 

[Charlotte1512]

Thanks Marilyn!!!!

[MarilynG1]

My pleasure!