You'll need to sign in or create an account to connect with an expert.
If you receive a form 1099-MISC for a fring benefit, then you are not considered as self-employed and do not need to file a Schedule C.
In TurboTax, enter your form 1099-MISC and follow the interview until you arrive at the page titled Did this involve an intent to earn money?. Answer that this did not involve an intent to earn money. The amount will be reported as Miscellaneous income and will not be subject to Self-employment tax.
In TurboTax, there is a work-around. Although you may receive this income every year, say that you only receive the 1099-MISC only in 2021, not in previous years and not in 2022, you will then have the screen where you can say that it did not involve an intent to earn money.
if you are an employee taxable fringe benefits are supposed to be included in taxable wages
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
katrivedi02
Returning Member
xu_tax
New Member
mijohn
Level 2
SCswede
Level 3
cassieaitken1
Level 1