Schedule 1, Line 24z

We just responded to a previous post from you with a request for additional information.  However, if have determined that the income in question needs to be reported on Schedule 1 with an equal offsetting amount to appear on line 24z, then follow these steps:

 

1. From the screen Your income and expenses, scroll down to Less Common Income.
2. Click on Show more if necessary.
3. Click Start across from Miscellaneous Income, 1099-A, 1099-C.
4. On the screen Let's Work on Any Miscellaneous Income, select Other reportable income.
5. On the screen Any Other Taxable Income? select Yes.
6. On the screen Other Taxable Income enter your 1099-K amount as a negative number.
7. Click Continue, then click Done.  

 

To view Schedule 1 in TurboTax online, follow these steps:

 

1. Open or continue your return.
2. Select Tax Tools in the left menu (if you don't see this, select the menu icon in the upper-left corner).
3. With the Tax Tools menu open;
4. Select Tools.
5. Next, select View Tax Summary in the pop-up.
6. Then Preview my 1040 in the left menu.
7. To get back to the step-by-step instructions, just click Back in the left margin.

@avimax

That approach puts the negative amount on line 8z, not 24z.

 

That's okay. Either one will work for me. Thank you.