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One of my investment brokerage accounts included a 1099-MISC in the tax package, with $6 under “other income.” I am not sure how to correctly report this in TT. The Smart Check feature is flagging this and seems to be assuming that it’s income from self-employment (asking for a business code, address, etc.) This other income is identified in the brokerage tax packet as pertaining to “royalties, substitute payments in lieu of dividends or interest, contract fees and various rebates, reimbursements or refunds.” Is there a solution to how best to enter this?
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Because it has been reported on a 1099-Misc (within the composite Form 1099-B) as other income, you can report it as other income in TurboTax. To report the amount as other income, follow these steps:
If you are using TurboTax CD/download, the process is similar. After selecting the Wages & Income tab, scroll down the screen to Less Common Income, and select Miscellaneous Income. Enter your information.
Much appreciated, thank you!
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audreyrosemary11
Level 2
audreyrosemary11
Level 2
audreyrosemary11
Level 2
yeracmot
New Member
yeracmot
New Member