1099-misc form. However 60% of that income was due to my after tax premium payments and hence only 40% of the medical insurance benefits reported are taxable. How adjust?

Medical leave benefits from State of Oregon. The insurance benefits were financed 60% by me after tax premiums. Hence shouldn’t be taxed. Where in TurboTax can I deduct from that 1099-misc reported total?

1422

Expert Alumni

Mar 15, 2024 7:29:48 AM

Please clarify, did you report this as personal income on your 1040 or as Self-Employment on your Schedule C?

If personal, first enter the 1099-MISC

next go to

Income

scroll to the last option "Less Common Income"

scroll down to the last option there "Miscellaneous Income, 1099-A, 1099-C" START

scroll down to the last option there "Other reportable income" START

Answer "Yes" to start the interview

Type something like "Tax-free portion of medical leave" as the description and the amount as a negative amount.

The adjustment to income will show on your Schedule 1 line 8z and carry over to your 1040.

New Member

Mar 15, 2024 7:39:25 AM

Yes it’s reported as personal income using full amount shown on 1099-Misc.

Thank you for your suggestion on how to adjust the reported amount.

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1099-misc form. However 60% of that income was due to my after tax premium payments and hence only 40% of the medical insurance benefits reported are taxable. How adjust?