turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Pymt from insurance contract used to be reported on 1099 R. This year it is 1099 misc. Questions for 1099 misc, are around self employment. What am I doing wrong?

I'm having to pay nearly the amount I used to get refunded.  My only other source of income is Social Security.  I'm not employed.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
LeticiaF1
Employee Tax Expert

Pymt from insurance contract used to be reported on 1099 R. This year it is 1099 misc. Questions for 1099 misc, are around self employment. What am I doing wrong?

You have to enter your Form 1099-MISC as Other Income.  To do this in TurboTax, follow the steps below:

 

  1. Open your tax return
  2. Click Federal in the left-hand column then on Wages & Income
  3. Locate the section Other Common Income and click on the down arrow on the right
  4. Click Start next to Form 1099-MISC
  5. Follow the interview
  6. On the question Did this involve an intent to earn money? Answer that this didn't involve an intent to earn money

 The amount will be reported as Miscellaneous income and won't be subject to Self-employment tax.

 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies