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tfjason2
New Member

I received a 1099misc income for land damage. I did your instructions and it did not work. Help?

 
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1 Best answer

Accepted Solutions
ToddL
New Member

I received a 1099misc income for land damage. I did your instructions and it did not work. Help?

To report the income:

  • Enter the 1099-Misc in the Other Common Income section (Enter "1099misc" in the Search Box and Select "Jump to 1099misc")
  • Indicate that it is a "Reimbursement for Damages", that it does not involve work like your main job, and that it did not involve an intent to make money, and is not a recurring payment (received in the past or expected in the future). 
  • The income will be reported on line 21 of your return.

To enter the expense:

  • Go to Less Common Income, Miscellaneous Income and Other reportable income (enter "other reportable income" in the Search Box and Select "Jump to other reportable income")
  • Continue to the screen "Other Taxable Income". Enter the description as "Cost of Damages" and the amount as a negative number. These are NOT wages.

A corresponding negative amount will be entered, and line 21 will be zero. See the attached screenshot example (different descriptions, but still offsetting).

View solution in original post

8 Replies
ToddL
New Member

I received a 1099misc income for land damage. I did your instructions and it did not work. Help?

What instructions are you referring to? What "did not work?"
tfjason2
New Member

I received a 1099misc income for land damage. I did your instructions and it did not work. Help?

I followed the help instruction to move it to other common income.  First one I tried just ended up with me doubling the 1099 amount.  I then looked for that ans. again this time it was different and told me to enter a - number.  This also came up different.  I have trouble when I go into help, each time I get different instruction, but everything said this is not taxable.  What I need is instruction and where to enter the 1099misc income and not pay taxes and it was not income but a damage payment
ToddL
New Member

I received a 1099misc income for land damage. I did your instructions and it did not work. Help?

What version of TurboTax are you using? What box is the income reported in?

Before I provide instructions that will work, delete any copies of this 1099-MISC that are in your tax file - also any associated forms or worksheets that may have been created when you entered the 1099-MISC in the first place. Let me know when you have finished.

<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1894474-how-do-i-delete-forms-in-turbotax-online">https://ttlc.int...>
tfjason2
New Member

I received a 1099misc income for land damage. I did your instructions and it did not work. Help?

removed 1099misc income and all support forms
ToddL
New Member

I received a 1099misc income for land damage. I did your instructions and it did not work. Help?

which box is the income in?
tfjason2
New Member

I received a 1099misc income for land damage. I did your instructions and it did not work. Help?

box 3
ToddL
New Member

I received a 1099misc income for land damage. I did your instructions and it did not work. Help?

So it worked out OK?
ToddL
New Member

I received a 1099misc income for land damage. I did your instructions and it did not work. Help?

To report the income:

  • Enter the 1099-Misc in the Other Common Income section (Enter "1099misc" in the Search Box and Select "Jump to 1099misc")
  • Indicate that it is a "Reimbursement for Damages", that it does not involve work like your main job, and that it did not involve an intent to make money, and is not a recurring payment (received in the past or expected in the future). 
  • The income will be reported on line 21 of your return.

To enter the expense:

  • Go to Less Common Income, Miscellaneous Income and Other reportable income (enter "other reportable income" in the Search Box and Select "Jump to other reportable income")
  • Continue to the screen "Other Taxable Income". Enter the description as "Cost of Damages" and the amount as a negative number. These are NOT wages.

A corresponding negative amount will be entered, and line 21 will be zero. See the attached screenshot example (different descriptions, but still offsetting).

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