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How do I enter the income from Massachusetts SMART compensation?

It is reported on 1099-MISC, but is not a job. It is a payment for the energy generated by our solar system.
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3 Replies
BrittanyS
Expert Alumni

How do I enter the income from Massachusetts SMART compensation?

Yes, you will need to report the 1099-MISC on your return.  The income is considered taxable on the federal return and state return.  To enter into TurboTax, follow these steps:

 

  1. Click on Federal > Wages & Income   
  2. In the Less Common Income section, click on the Start/Update box next to Miscellaneous Income, 1099-A, 1099-C
  3. Click the Start/Revisit box next to Other reportable income on the Miscellaneous Income screen. 
  4. On the Any Other Taxable Income? Screen, click the Yes box.
  5. Enter the income on the Other Taxable Income screen and a description.  Click Continue.
  6. You will be brought to the Other Miscellaneous Income Summary.  If you have no more miscellaneous income to report, click Done.

 

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How do I enter the income from Massachusetts SMART compensation?

But the instructions for other reportable income specifically say, "Do not enter income reported on form 1099-MISC".

 

On last year's professionally-prepared return this income was on line 8z of schedule 1 and then transferred to line 8 of the form 1040.  

 

Can I just manually fill the forms in the web version of TurboTax?

How do I enter the income from Massachusetts SMART compensation?

To report the income for the 1099-MISC on line 8z of Schedule 1 follow these steps.

  1. Open TurboTax.
  2. "Pick up where I left off."
  3. Federal > Wages & Income > " Less Common Income" > Miscellaneous Income, 1099-A 1099-C > Start or Revisit.
  4. "Other reportable income" > Revisit.
  5. On the screen below, select "Yes."

 6. On the screen below, enter the description and amount.

 

 7. Continue > Done.

 

 

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