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Level 1
posted Feb 20, 2024 2:41:02 PM

1099-MISC reporting as other income

I have a 1099-MISC from my former employer for the value of a campus parking permit issued to retired employees. TT Premier insists that the amount be treated as business income, but I do not have a business and don't need to file Sched. C. How do I get it onto the "other income" line of sched. 1 as opposed to Sched. C?  Entering it under "Less Common Income - Miscellaneous Income, 1099-A, 1099-C" results in a duplication of the amount.  I found some similar questions already but the answers provided do not work.

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2 Replies
Level 15
Feb 20, 2024 2:51:35 PM

  1. Don’t enter as 1099-Misc

  2. Go to Wages & Income
  3. Scroll to the bottom under Less Common Income select Start (or Update) for Miscellaneous Income.
  4. Choose the appropriate category and enter your Other Income

Employee Tax Expert
Feb 20, 2024 2:51:38 PM

If you receive a form 1099-MISC for the value of a parking permit, then you aren't considered as self-employed and don't need to file a Schedule C.

 

In TurboTax, enter your form 1099-MISC and follow the interview until you arrive at the page titled Did this involve an intent to earn money?. Answer that this didn't involve an intent to earn money. The amount will be reported as Miscellaneous income and won't be subject to Self-employment tax.

 

In TurboTax, there's a work-around. Although you may receive this income every year, say that you only receive the 1099-MISC only in 2023, not in previous years, and not in 2024, you will then have the screen where you can say that it didn't involve an intent to earn money.