Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Mar 28, 2020 1:28:41 PM

Do I have to report a 1099-MISC amount of $2361.97?

0 2 308
2 Replies
Level 2
Mar 28, 2020 1:30:20 PM

Yes

Level 15
Mar 28, 2020 1:30:57 PM

Yes of course.  You have to report all you income no matter how small.  Even $1 of bank interest.  Why did you get the 1099Misc?

 

That is usually for self employment income. You have to file it on schedule C and pay self employment tax.
You can enter Self Employment Income into Online Deluxe or Premier but if you have any expenses you will have to upgrade to the Self Employed version. Or any of the Desktop programs. But you will get the most help in the Home & Business version.

 

How to enter income from Self Employment
https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653