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Level 1
posted Mar 13, 2025 1:58:57 PM

1099-MISC

I'm having errors on my input for 1099-MISC.  The 1099-MISC comes from my broker.  In the brokers information it is transaction type "contract fee".  I don't perform work, so there's no business expense.  How do I delete on of these errors on Form C?

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1 Replies
Level 8
Mar 13, 2025 2:18:17 PM

was this a bonus from a brokerage offer or something like that, rather than payment in exchange for contract work?  For those type items when you input the 1099-MISC you have to say "no" to the question about "intent to earn income" as this is not earned it's passive income.  That will just flow it thru to Schedule 1 and onto your 1040 line 8 rather than spinning up a Schedule C.