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New Member
posted Jun 3, 2019 1:57:05 PM

How do I input a 1040? Turbotax keeps taking me to a 1099 and wont "jump to" the 1040. I dont have a 1099 to enter. Whats the best way to report profit/loss? Thanks!

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1 Best answer
Level 13
Jun 3, 2019 1:57:06 PM

You don't work directly on "Form 1040" using TurboTax.  Form 1040 represents the summary of all the details you've entered in other Forms, Schedules and Worksheets using the various TurboTax interviews:

https://www.irs.gov/pub/irs-pdf/f1040.pdf

Since you're using TurboTax Self Employed I assume you are referring to a 1099-MISC when you say you don't have a 1099.  (There's almost two dozen different "flavors" of 1099's issued by the IRS so simply saying "1099" doesn't convey much information.)  Start the "Business" interview.  After you fill out some general information about your business you land on a page titled "Your [Business Name] Business" with a list of interviews to complete.  The first interview is "Forms 1099-MISC & 1099-K, gross receipts, sales."  If you have received no 1099-MISC's or 1099-K's you can simply skip that portion of the interview.   You simply enter you revenue from your own books and records under "General income" , i.e., income not reported to you on a 1099-MISC.

Tom Young


3 Replies
Level 13
Jun 3, 2019 1:57:06 PM

You don't work directly on "Form 1040" using TurboTax.  Form 1040 represents the summary of all the details you've entered in other Forms, Schedules and Worksheets using the various TurboTax interviews:

https://www.irs.gov/pub/irs-pdf/f1040.pdf

Since you're using TurboTax Self Employed I assume you are referring to a 1099-MISC when you say you don't have a 1099.  (There's almost two dozen different "flavors" of 1099's issued by the IRS so simply saying "1099" doesn't convey much information.)  Start the "Business" interview.  After you fill out some general information about your business you land on a page titled "Your [Business Name] Business" with a list of interviews to complete.  The first interview is "Forms 1099-MISC & 1099-K, gross receipts, sales."  If you have received no 1099-MISC's or 1099-K's you can simply skip that portion of the interview.   You simply enter you revenue from your own books and records under "General income" , i.e., income not reported to you on a 1099-MISC.

Tom Young


New Member
Jun 3, 2019 1:57:07 PM

I really appreciate this. Obviously, I did not explain very well, but you gave me exactly what I needed to know. Thank you!

New Member
Jun 3, 2019 1:57:09 PM

The 1040 is the Federal tax form that is completed after you enter all your data and your return is ready to file.  Any data that needs to go on the 1040 form is entered with other forms and information you provide by answering the questions in TurboTax.

If you have profit/loss on stocks, mutual funds or bonds, you will receive a 1099-B from your financial institution and that is reported in the Investment section.

If you have a profit/loss from selling your home, that is reported under Less Common Income.

Should you have another type of profit/loss to report, please let me know and I will direct you.