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prekaide
New Member

1099 Mis

I received an 1099Misc for winning a boat with 4 other people

We sold the boat and split the money

Why when I enter it turbo keeps putting it in a business and I cannot answer questions on a business as there is no information this was from the individual who split the money

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1 Reply
DianeC958
Expert Alumni

1099 Mis

If the amount is in Box 3 as Other Income to report the income without making it business income you need to 

 

Enter the 1099-Misc

On the next screen Describe what the payment was for

On the next screen select "none of these apply"

On the next screen select "No it didn't involve work like my main job"

On the next screen select "I got it in 2019" ONLY 

On the next screen select No, it didn't involve intent to earn money

TurboTax will put the amount on line 21 of form 1040 as Other Income

 

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