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gwin_1
New Member

If I have income reported on a 1099-MISC that is not from a business how should I enter it?

The income is from a Contingent Autocall Secutiry and is listed as "Other Income" on the 1099-MSIC. TurboTax keeps trying to make me use a Schedule C, but it doesn't apply and TurboTax wont let me proceed.
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1 Reply
MaryK4
Expert Alumni

If I have income reported on a 1099-MISC that is not from a business how should I enter it?

The best way is to report as Miscellaneous Income.  Under Less Common Income select Miscellaneous Income, 1099-A, 1099-C:

 

  1. On the Let's Work on Any Miscellaneous Income page, select Start to the right of Other reportable income
  2. On the Any Other Taxable Income? screen, select Yes
  3. On the Other Taxable Income screen enter the description "1099-MISC for ," then the amount.  Select Continue
  4. On the Other Miscellaneous Income Summary screen, select Done
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