1099 Misc form and W2

Forum|Forum|7 years ago
June 1, 2019
1 reply
17 views

I just realized I received both a 1099-Misc form and W-2 from my employer. I'm still early in the process - I haven't entered my W2 yet. What do I need to do to account for the 1099 Misc form as well?

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DawnC0

Level 12

In the income section, there is a place for W-2 income and a separate place for 1099-MISC income. Your wages on W-2 are employee income, but your 1099 will be either 'Other Income' or 'Self-Employment'. Although you can report both in TurboTax, you cannot use the Free Edition to file 1099-MISC.

You will need to upgrade to Deluxe or Premier to enter the 1099-MISC income.

You may want to look into the TurboTax Freedom Edition; it is free software that does handle the 1099-MISC.

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hitlinks

Level 2

If the income is reported in box 3 not box 7 it is most likely a manufacturer's incentive. If this is the case you can report it on line 21 of your 1040.