topic Re: 1099- Misc and Box 3 in Get your taxes done using TurboTax

1099- Misc and Box 3

sam992116 — Tue, 24 Feb 2026 07:56:26 GMT

I have 1099-Misc income on my 1099.

I imported 1099 directly into TT and under

Wages and Income and then 1099 Misc, when I clicked on Update it is showing me 2 1099-Misc from same brokerage.

One item has correct item already filled out in Box 8

and other one says needs review and nothing is filled.

I assume I just delete 2nd one? Not sure why it TT software is showing 2 1099 - Misc?

1099-Misc (Box 8, substitute payments) is Taxable amount? by which rate? your ordinary income tax rate?

What to do with Box 3 in 1099-Div? It is NOT taxable amount. I assume it is for information only as your cost basis will be reduced by this amount?

Anonymous_ — Mon, 02 Oct 2023 01:01:21 GMT

Yes, your cost basis is reduced (you need to track your basis outside of TurboTax).

You might be better off deleting the 1099s and entering them manually.

sam992116 — Mon, 02 Oct 2023 01:06:40 GMT

What about Box 3, of 1099-Div? Keep it or delete it. I don't think that is used to tax calculations?

What is tax treatment of 1099- MISC? ordinary tax rate?