topic My 1099-MISC was not work related income. The money was a gift. How do I remove the Turbo Tax analysis and charge? in Get your taxes done using TurboTax

My 1099-MISC was not work related income. The money was a gift. How do I remove the Turbo Tax analysis and charge?

hanna-angie — Sat, 01 Jun 2019 17:52:36 GMT

In what way was this a gift. What box was it reported in?

Coleen3 — Sat, 01 Jun 2019 17:52:37 GMT

In what way was this a gift. What box was it reported in?

Gifts are not reported on a 1099. What exactly did you d...

Opus 17 — Sat, 01 Jun 2019 17:52:39 GMT

Gifts are not reported on a 1099. What exactly did you do you get this money?

Gifts are not taxable either.

SweetieJean — Sat, 01 Jun 2019 17:52:40 GMT

Gifts are not taxable either.

Your question is very common - sorry for the confusion. I...

JeffG — Sat, 01 Jun 2019 17:52:41 GMT

Your question is very common - sorry for the confusion.

Information from Form 1099-MISC can be entered in 2 different locations, depending on your situation:

Self-Employment - when the income relates to your normal job or something you do regularly. This income will end up on a Sch C, subject self-employment tax and expenses can be entered to reduce the taxable amount.

Other Common Income - something you did only once - and not related to your normal job and don't plan on doing this type of work in the future.

If the second example sounds like you - enter this information in Turbo Tax as follows: Go to Federal Taxes - then click on Wages & Income, next look for the section: Other Common Income, then click on Start to the right of "Form 1099-MISC."

I hope this helped you. Thank you for using Turbo Tax.