1099-MISC but should not be on Schedule C

I invested some money through my brokerage. For some reason, some of the returns are reported on a 1099-MISC and so Turbo Tax accumulates them on Schedule C. This is not income from a job or side business. How do I remove this from Schedule C??

214

Expert Alumni

Apr 24, 2021 12:10:41 PM

You will need to delete the Schedule C.

Here's the general procedure for viewing the forms list and deleting unwanted forms, schedules, and worksheets in TurboTax Online:

Open or continue your return in TurboTax.
In the left menu, select Tax Tools and then Tools.
In the pop-up window Tool Center, choose Delete a form.
Select Delete next to the form/schedule/worksheet in the list and follow the instructions.

To enter:

Under the Wages & Income scroll down to Other Common Income and elect to start/update Income from form 1099-MISC. Then click YES to indicate you have a 1099-MISC.

Enter the 1099-MISC exactly as it appears. Continue
Enter the reason you got this income.
Select None of these apply. Continue.
Select No, it didn’t involve work. Continue
Select the tax year for which this 1099-MISC was issued.
Select No, it didn’t involve an intent to earn money. Continue.
Select No. Continue.

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1099-MISC but should not be on Schedule C