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Which form do i use for Tax reporting of convention expenses as income

 
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5 Replies
SharonD007
Expert Alumni

Which form do i use for Tax reporting of convention expenses as income

We would love to help you but need you to provide more information.  Please clarify.  If you have an expense, you can't also count it as income.

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Which form do i use for Tax reporting of convention expenses as income

I went on a trip as a guest with my wife for her company.  The cost of me attending was reported as taxable income

MonikaK1
Expert Alumni

Which form do i use for Tax reporting of convention expenses as income

Did the company report the cost on an information return, such as a Form 1099 representing an award or prize?

 

If you received a Form 1099-MISC, you can enter it in TurboTax and identify that it was not income from working so that it doesn't get misclassified as self-employment income:

 

  1. Select Income from Form 1099-MISC under Wages and Income.
  2. Enter the payer information and dollar amount
  3. Enter a description for the payment
  4. When asked about Uncommon Reasons, select that none apply or select one that adequately explains the reason
  5. When asked about the frequency of payment, select received in 2023
  6. When asked "Did (description) involve an intent to earn money?" answer No (that is, it is not earned income and therefore not subject to self-employment tax)

Form 1099-MISC is used by business payers to report certain types of miscellaneous compensation, such as rents, prizes, awards, healthcare payments, and payments to an attorney to the IRS and to the recipients of those payments.

 

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Which form do i use for Tax reporting of convention expenses as income

Did not receive a 1099-MISC but we are inquiring about one.

Thank you for your time in answering this question.

 

Hal_Al
Level 15

Which form do i use for Tax reporting of convention expenses as income

"The cost of me attending was reported as taxable income".

 

Normally, that amount would already be include in box 1 of your spouse's W-2 and there would not be  need for additional reporting.  There might also be an informational notation in either box 14 or box 12. 

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