Brokerage Account 1099-MISC Box 3. "Other Income" Amount from Dividend Payment. TurboTax wants to put it under Schedule C Income?

[bmwermuth]

My consolidated Tax Statement from Etrade includes a Box 3 ("Other Income") amount on a 1099-MISC for dividend payments in the amount of $51.06 distributed by a covered call ETN .  But TurboTax wants to categorize this income ($51.00) as schedule C income and therefore creates a new business for my wife.  This does not seem right.  The covered call ETN is the UBS AG ETRAC Covered Call ETN (Ticker symbol: SLVO), and it seems to me it should be simply listed as "other income" and not schedule C income from a business.  Am I right?  If so, how to I fix things so the amount flows to the proper "Other Income" tax line?

[baldietax · Accepted solution]

there's a question after the 1099-MISC input whether it's an 'intent to earn income' which triggers schedule C - say No to this - it's not earned income, it's passive.

[bmwermuth]

Thank you!