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Had 18k of income with Lyft in 2019. but my 1099-misc is blank except for box 7- for 1151. Where do i enter the 18k of income? "rents"? "royalties" ??

 
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2 Replies
Carl
Level 15

Had 18k of income with Lyft in 2019. but my 1099-misc is blank except for box 7- for 1151. Where do i enter the 18k of income? "rents"? "royalties" ??

A 1099-MISC with income reported in box 7 is not reported on a SCH E. Not ever. It's reported on SCH C. You will not enter this 1099-MISC anywhere in the rental/royalty section. It gets entered in the Business Income & Expenses (SCH C) section of the program.

As far as the IRS is concerned, a 1099-MISC with an amount in box 7 is self-employment income you earned while self-employed and "in business" for yourself. Therefore it's reported in the Business Income & Expenses (SCH C) section of the program. Just work it through, and you'll be able to claim/deduct those business expenses that you can prove. For example, since you'll be claiming vehicle use in the "Business Vehicle Use" section, you enter your actual business miles driven (that you can prove) and the program will allow for a deduction of $0.58 per business mile driven.

 

Carl
Level 15

Had 18k of income with Lyft in 2019. but my 1099-misc is blank except for box 7- for 1151. Where do i enter the 18k of income? "rents"? "royalties" ??

Oh yeah, when working this through the business income section, you'll be asked for income reported on a 1099-MISC (which you have) as well as income not reported on a 1099-MISC. That's where you'll enter the amount not included on the form.

 

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