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greglo3a
New Member

1099-misc TDAmeritrade and smartcheck wants a schedule C

Can't get past the smartcheck got a 1099-misc for a foreign ETN investment thru TDameritrade

now it wants me to fill out a schedule C and I can't get around it. No option on Sch C for investments

it's all for businesses.

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3 Replies
KrisD15
Expert Alumni

1099-misc TDAmeritrade and smartcheck wants a schedule C

Enter it as "Other Common Income" not subject to Self-Employment. 

Delete the 1099-misc you entered and re-enter it.

Click Federal

Click Wages & Income

Click “See All Income” if needed

Scroll down (PAST SELF-EMPLOYMENT) to “Other Common Income”

Click “Show more”

Scroll down to “Form 1099-MISC”

Click Start

Enter the 1099-MISC and Continue

On the “Describe the reason for this 1099-MISC” screen type in something like “TDameritrade 1099-misc” and Continue

Select “None of these apply” and Continue

Select “No, it didn’t involve work like main job” and continue through the interview selecting the appropriate answers for a one-time investment payment 

The amount from the 1099-MISC will be reported as Other income on the 1040 line 7a, not as Self-employment

 

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greglo3a
New Member

1099-misc TDAmeritrade and smartcheck wants a schedule C

Thanks for the reply I did delete and reenter the 1099-misc, but it didn't actually fix the issue until I added the step of deleting the Schedule C form in conjunction with your recommendation, so thank you.

LinaJ2020
Expert Alumni

1099-misc TDAmeritrade and smartcheck wants a schedule C

You are welcome! 

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

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