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Where do i report pension income from 1099-misc box 3?
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Where do i report pension income from 1099-misc box 3?
You can enter the pension income reported to you on 1099-MISC as "Other Common Income," which is reported on line 8 of 1040 Schedule 1 and will not generate Schedule C or SE tax. Please use the following steps:
- Click on Federal > Wages & Income.
- Scroll down to the Other Common Income section.
- Click on the Start/Revisit box next Form 1099-MISC.
- On the screen Did you get a 1099-MISC? click on the Yes button.
- On the next screen, Let's get the info from your 1099-MISC, enter the information from the 1099-MISC.
- On the following screens, answer the following questions:
- Did it involve work that's like your main job? No.
- You got it in 2019
- No, it didn't involve an intent to earn money
7. Continue through the rest of the interview screens. The income will appear as Other Income.
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Where do i report pension income from 1099-misc box 3?
Using Turbotax 2021 Desktop
I tried the instructions given here. My 1099-MISC is for a Supplemental Retirement Plan that I receive due to my wife's death (the plan covered us both till we died).
It is generating a Schedule C (I know because I'm getting the "fill in these fields" for Schedule C during Smart Check.
How do I get it to not generate the Schedule C. This is looking like about a $7,000 difference in the taxes.
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Where do i report pension income from 1099-misc box 3?
@jwagner504 If you answered all of the questions in the same way as the example provided by @Irene2805 above then you should not have generated a schedule C. Make sure that you enter the answers to the three questions exactly as they are listed in step six of the step by step guide provided. If you are not certain then you need to revisit those questions.
- Did it involve work that's like your main job? No.
- You got it in 2021
- No, it didn't involve an intent to earn money
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