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How can I add investment income from Box 1099-MISC to Form 8960 Part I Line 7? It is not flowing through.
I received a 1099-MISC for investment income. 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.
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April 18, 2023
3:06 PM
last updated
April 18, 2023
3:06 PM
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How can I add investment income from Box 1099-MISC to Form 8960 Part I Line 7? It is not flowing through.
What is the income?
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April 18, 2023
3:25 PM
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How can I add investment income from Box 1099-MISC to Form 8960 Part I Line 7? It is not flowing through.
It's investment income from various structured investments such as Callable Contingent Income Securities.
April 18, 2023
3:50 PM
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How can I add investment income from Box 1099-MISC to Form 8960 Part I Line 7? It is not flowing through.
You should have reported the income as capital gain income from investment sales. You can follow these steps to enter investment sale income in TurboTax:
- Choose the Federal option on your left menu bar
- Choose Wages & Income
- Choose the Investments and Savings (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto) option
- Choose Add investments
- Choose the Stocks, Bonds, Mutual Funds option and follow the instructions
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April 18, 2023
4:30 PM
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How can I add investment income from Box 1099-MISC to Form 8960 Part I Line 7? It is not flowing through.
But the income isn't capital gain, it's ordinary income from the structured securities reported on a 1099-MISC and not a 1099-B.
April 26, 2023
3:04 PM
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