My company issued a 1099-MISC for company provided life insurance. This is not business income, but Turbotax places the amount as business income under Schedule C. This amount should stay in personal income under Other 1099-MISC, not transfer to Sch. C. Please help?
I would try to delete the 1099-MISC and then re-enter it according to these instructions below.
Step 1. Delete the 1099-MISC.
Step 2. Reenter the 1099-MISC.
You can enter the 1099-MISC in TurboTax 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:
7. Continue through the rest of the interview screens. The income will appear as Other Income.
Click here for additional information on how to enter a Form 1099-R Misc.