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B_T007
Returning Member

1099 Misc

I got a 1099 MISC from Morgan Stanley which was a credit for their American Express Credit Card. TurboTax keeps adding it to my Schedule C as income and I don't know the solution. 

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2 Replies
DawnC
Employee Tax Expert

1099 Misc

If the income on the 1099-misc is not self-employment income, delete that 1099-misc and delete the Schedule C.  Then re-enter the 1099-misc as follows.

 

Under Other Common Income, select Start or Revisit next to Form 1099-MISC.   Enter your 1099-MISC info on the Let's get the info from your 1099-MISC screen and click Continue.  

 

  1. On the Describe the reason for this 1099-MISC screen, enter a description of the income.  
  2. Click Continue.
  3. Select None of these apply on the Does one of these uncommon situations apply? screen.
  4. Select No, it didn’t involve work like my main job on the Did the involve work that's like your main job? screen.
  5. Select I got it only in 2024 on the How often did you get income for? screen.
  6. Select No, it didn’t involve intent to earn money on the Did the work involve an intent to earn money? screen.
  7. Select No on the Do you have another 1099-MISC? screen.

 

Answering differently to any of these questions will imply self-employment and generate Schedule C.    Don't forget to delete the Sched C and the erroneous 1099.  

 

How to delete forms in TurboTax Online

 

How to delete forms in TurboTax Desktop

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B_T007
Returning Member

1099 Misc

Dawn - thank you soooo much! That worked - much appreciated!

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