My son gave me $2700. For watching over a rental property he owns. How do i file this income?

[gcamp3887]

I need to report $2700.00 that my son gave me in 2018. Where do I add this to my tax return?

[KarenJ · Accepted solution]

You can enter it as miscellaneous income.  Please see the following steps.

To enter the income:

1. Click on Federal on the left hand side of the screen in the black area
2. Click on Wages & Income at the top of your screen
3. Scroll down (  you may need to click on All Income) to Less Common Income
4. Click on Show More
5. Scroll down to Miscellaneous Income
6. Click on Start
7. Scroll down to Other reportable income and click Start
8. Enter a description and income amount

[Hal_Al]

That will put the income on line 21 (schedule 1) of form 1040 as "Other income" and not as self employment income.

[Hal_Al]

Because it's between close family members, you do not need to report that as income, unless your son used it as an expenses deduction on his return.

If he did, I'm of the opinion that it should be reported as self employment income and not as "other income" as described in the other answer. 

The IRS considers undocumented cash income (no W-2 or 1099-MISC), for work performed, to be self employment income. Enter at "Business Income & Expenses" and TurboTax (TT) will complete Schedule C or C-EZ for you and allow you to deduct any expenses associated with this income. You'll also have to pay self employment tax (social security & medicare tax) on any profits greater than $400.

You may have to upgrade to the Self Employment version of TT. If you have no expenses to deduct, There's a chance you may be able to use TT Deluxe or Premier. Enter your income at the 1099-Misc screen (even if you didn't get a 1099-misc). You do not need the payer's ("employer's") Employer ID Number (EIN).

In TurboTax (TT), enter at:
- Federal Taxes tab

 - Wages & Income

Scroll down to:

   - Other Common Income

      -Income from Form 1099-Misc

When asked why you got the 1099-Misc, select “Rental manager”

[Hal_Al]

TurboTax also has another free product called the Free File Edition (not to be confused with the regular Free Edition).  It has free Federal preparation and free State preparation. There is no efiling fee. It is not available after October 15
The Free file Edition can handle a 1099-MISC.
The Free file Edition is more fully-featured than the regular Free Edition.  The Free File Edition can prepare Schedule A, C, D, E, and F that the Free Edition cannot.  

For Free File Edition a user needs to meet only ONE of these qualifications:
•      AGI of $34,000 or less
•      or active duty military (including Reservists and National Guard) with a military-issued W-2 and a 2018 AGI of $66,000 or less
•      or eligible for the Earned Income Credit (EIC aka EITC).

The FREE FILE Edition is located at:
<a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/taxfreedom">https://turbotax.intuit.com/taxfreedom</a>

How to switch and start over in Free file Edition
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/2026912-how-do-i-switch-to-turbotax-freedom-edition">https://ttlc....>