Solved: 1099-MISC Worksheet Robinhood
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Level 1

1099-MISC Worksheet Robinhood

I'm getting this review error before submitting my taxes. It says I need to review my 1099-MISC worksheet from Robinhood and add something to line Schedule C. Anytime I enter something and save it, it keeps telling me I have to review it and won't let me submit my taxes. (See screenshots below)

Review.pngCHeck Entry.png

 
 
1 Best answer

Accepted Solutions
Expert Alumni

1099-MISC Worksheet Robinhood

TurboTax is trying to figure out how to treat the income from the 1099-MISC.  If it is associated with a Schedule C (self-employment income for a trader business you operate) you could double-click that box and you should be able to select your Schedule C.

 

If on the other hand it is a promotional payment associated with personal investing, it is not self-employment income, and when you enter the 1099-MISC you should designate it a "Robinhood incentive", and on the next screen designate it as either "prize winnings" or "manufacturer's incentive" depending on which you consider it to be. 

 

You should be able to go back to the Wages and Income>>Income from Form 1099-MISC section to designate the payment accordingly.

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3 Replies
Expert Alumni

1099-MISC Worksheet Robinhood

TurboTax is trying to figure out how to treat the income from the 1099-MISC.  If it is associated with a Schedule C (self-employment income for a trader business you operate) you could double-click that box and you should be able to select your Schedule C.

 

If on the other hand it is a promotional payment associated with personal investing, it is not self-employment income, and when you enter the 1099-MISC you should designate it a "Robinhood incentive", and on the next screen designate it as either "prize winnings" or "manufacturer's incentive" depending on which you consider it to be. 

 

You should be able to go back to the Wages and Income>>Income from Form 1099-MISC section to designate the payment accordingly.

**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

New Member

1099-MISC Worksheet Robinhood

Thanks for thorough explanation!!

Level 1

1099-MISC Worksheet Robinhood

I have the same problem.I am using online version and purchase TURBOTAX PLUS BENEFITS 2.0 TAX YEAR W/REFUND PROCESS SVC R2019 .It is still saying I am on Free version.Double click does not do anything.I have entered all possible values and it keeps saying review is not completed!!!!Please fix this glitch .

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