1099-MISC Sign On Bonus

Steve_tt · ‎April 2, 2022

I opened a new Trading account and was provided a sign on bonus. Do I choose the intent to make money or not? I am confused as I see my Sign On bonus as business income.

PatriciaV · ‎April 3, 2022

It's unlikely this bonus was an intent to make money, unless the trading account is your business.

Otherwise, edit your entries for Form 1099-MISC and be sure to indicate that it was not related to your main job, was one-time income, and was NOT an intent to make money. These changes will move the income from a business to Other Income on Form 1040.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

PatriciaV · ‎April 3, 2022

It's unlikely this bonus was an intent to make money, unless the trading account is your business.

Otherwise, edit your entries for Form 1099-MISC and be sure to indicate that it was not related to your main job, was one-time income, and was NOT an intent to make money. These changes will move the income from a business to Other Income on Form 1040.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Expert does your taxes

Do it yourself

Resources

Support

1099-MISC Sign On Bonus