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Level 2
posted May 7, 2023 1:09:01 PM

How can I add investment income from Box 1099-MISC to Form 8960 Part I Line 7? It is not flowing through. Per the investment prospectus the income is ordinary and not CG

I received a 1099-MISC for investment income (various structured securoties). I have been able to find out to input without triggering Sch C/self employment taxes, but the income is not flowing onto Form 8960.  Per the invest prospectus this income is ordinary income and not capital gain. 

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1 Best answer
Level 15
May 7, 2023 1:19:39 PM

If you need to make an adjustment to Line 7 of Form 8960, you can do so by accessing the Form 8960 Worksheet in Forms Mode.

 

The online editions of TurboTax, however, do not support Forms Mode so, if you are using one of those editions, you will have to switch to a desktop version of TurboTax to access Forms Mode.

 

1 Replies
Level 15
May 7, 2023 1:19:39 PM

If you need to make an adjustment to Line 7 of Form 8960, you can do so by accessing the Form 8960 Worksheet in Forms Mode.

 

The online editions of TurboTax, however, do not support Forms Mode so, if you are using one of those editions, you will have to switch to a desktop version of TurboTax to access Forms Mode.