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I received a 1099Misc from my employer for a bonus, TurboTax is is asking all kinds of questions I don't have answers to regarding Schedule Cs. I'm not self-employed.
It is reported as "Other Income" in box 3, that is the only box with income information. Thank you. The income could be a bonus or profit sharing.
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June 1, 2019
8:45 AM
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June 01, 2019
8:45 AM
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I received a 1099Misc from my employer for a bonus, TurboTax is is asking all kinds of questions I don't have answers to regarding Schedule Cs. I'm not self-employed.
This is an easy way to enter Box 3 income.
- Sign in to TurboTax Online, click Continue your return, then pick up where I left off (if you are using TurboTax CD/ Download, then just open your return on your computer).
- Click on Federal Taxes at the top of the screen.
- At the bottom of Your Income box pick the option in blue to help me add other income, then jump to full list;
- Scroll down the page to the last section titled: Less common Income and click show more;
- Select start or update next to the last topic titled Miscellaneous Income, 1099-A, 1099-C;
- Scroll down to the last option titled Other reportable income and select start or edit;
- When it asks, "Any other reportable income?" say yes then type in a description and the amount to report it on your tax return.
This will place it on line 21 of your Form 1040
June 1, 2019
8:45 AM
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I received a 1099Misc from my employer for a bonus, TurboTax is is asking all kinds of questions I don't have answers to regarding Schedule Cs. I'm not self-employed.
But I received a 1099-MISC
June 1, 2019
8:45 AM
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I received a 1099Misc from my employer for a bonus, TurboTax is is asking all kinds of questions I don't have answers to regarding Schedule Cs. I'm not self-employed.
Yes, box 3 of Form 1099-Misc.
June 1, 2019
8:45 AM
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I received a 1099Misc from my employer for a bonus, TurboTax is is asking all kinds of questions I don't have answers to regarding Schedule Cs. I'm not self-employed.
Box 3 is Other Income.
June 1, 2019
8:45 AM
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I received a 1099Misc from my employer for a bonus, TurboTax is is asking all kinds of questions I don't have answers to regarding Schedule Cs. I'm not self-employed.
It states "do not enter income reported on 1099-MISC"
June 1, 2019
8:45 AM
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I received a 1099Misc from my employer for a bonus, TurboTax is is asking all kinds of questions I don't have answers to regarding Schedule Cs. I'm not self-employed.
Your employer made a mistake. Employee bonuses are supposed to be reported on your W-2, not on a 1099-MISC. So I would enter your 1099-MISC as follows:
Less Common Income > Miscellaneous Income > Other Income not already reported on a W-2 or 1099-MISC > "Yes" to Did you receive any other wages? > continue past the household employee and sick pay screens > "Yes" again to Did you earn any other wages > then check "Employee compensation that was not reported on a W-2" > and proceed on. Carefully follow the directions on each screen that follows.
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4133772-how-can-i-file-an-employer-issued-1099misc-for-a-bonus-to-...>
Less Common Income > Miscellaneous Income > Other Income not already reported on a W-2 or 1099-MISC > "Yes" to Did you receive any other wages? > continue past the household employee and sick pay screens > "Yes" again to Did you earn any other wages > then check "Employee compensation that was not reported on a W-2" > and proceed on. Carefully follow the directions on each screen that follows.
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4133772-how-can-i-file-an-employer-issued-1099misc-for-a-bonus-to-...>
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
June 1, 2019
8:45 AM
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I received a 1099Misc from my employer for a bonus, TurboTax is is asking all kinds of questions I don't have answers to regarding Schedule Cs. I'm not self-employed.
Ok thank you. It is ok to do this even though Turbo Tax says "do not enter income reported on 1099-MISC"?
June 1, 2019
8:45 AM
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I received a 1099Misc from my employer for a bonus, TurboTax is is asking all kinds of questions I don't have answers to regarding Schedule Cs. I'm not self-employed.
Yes, assuming you did not already enter the 1099-MISC. The TurboTax instruction is a bit confusing.
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
June 1, 2019
8:45 AM
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I received a 1099Misc from my employer for a bonus, TurboTax is is asking all kinds of questions I don't have answers to regarding Schedule Cs. I'm not self-employed.
I should have said that another option is to ask your employer to void the 1099-MISC and issue a corrected W2.
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
June 1, 2019
8:45 AM
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