topic 1099-Misc in Get your taxes done using TurboTax

1099-Misc

glt2020 — Sat, 04 Apr 2020 20:42:03 GMT

My husband received a monthly disability benefit from his annuity in 2019 so he received a 1099-Misc to report the income. Turbo Tax is throwing it to a Schedule C as a business income and wants the business activity code for this. Is this correct? Should this be on a Schedule C when it's not a business?

Re: 1099-Misc

KarenM90 — Sat, 04 Apr 2020 21:07:40 GMT

Assuming the payments are showing in box 3 "Other Income" on your 1099-Misc, on the "Income & Expenses" tab scroll down to "Other Common Income"

1. Identify as Short-term disability

2. Enter as "not your main job"

3. You didn't do this "to earn money"

4. You "received in 2019"

Following these steps, this should not show up in self-employment.

If this is not the case, please clarify how this income is reported to you.

Here is a link from IRS with more information regarding disability payments: Disability Payments

Re: 1099-Misc

glt2020 — Sun, 05 Apr 2020 01:01:14 GMT

@KarenM90 - where do I find the "Income & Expenses" tab? The closest thing I see is "Wages & Income". Any direction would be appreciated!

Re: 1099-Misc

DianeC958 — Sun, 05 Apr 2020 15:12:48 GMT

The tab is labeled Wages & Income. Under this section at the bottom is where you will find the Other Income Section.

@glt2020

Re: 1099-Misc

glt2020 — Sun, 05 Apr 2020 16:26:34 GMT

Thank you, Karen and Diane, for your help! I've got it now!