1099 Misc

[Stephanie112]

Hi

My husband received a 1099 misc from his life insurance company for a short term disability last year. I am very confused as to how to record this on the Schedule C. For example, what would the prinicipal business code be? Not sure where I went wrong. 

Any guidance is greatly appreciated. 

[SharonD007]

Generally, income from a 1099-MISC form is considered self-employment income but disability income is not self-employment income.  Follow the instructions to enter the form so it is not included in self-employment income. First you can delete the 1099-MISC form that you already entered and then re-enter it as "Other Income".

1. Launch TurboTax and select Wages and Income
2. Scroll down to Income from Form 1099-MISC and select Edit
3. Select the trash can that is next to the 1099-MISC form that you already entered to delete it
4. Next, you will enter the 1099-MISC as other income
5. Scroll down to Other Common Income
6. Select Add Form Enter your 1099-MISC and select Continue

For more information, refer to the TurboTax Help article: Where do I enter a 1099-MISC?