I,was in the sales business.I,transferred my clients to another broker,that broker pays me based on commissions received from my former clients. How should I report this?

[Critter]

Do you get a 1099-misc from him ?   If so which box is the amount in ?  3 or 7 ?

[kesselring]

No, I do not get any 1099 or any tax forms.

[Critter · Accepted solution]

You can report it as other income on Sch 1  line 21. Here's how to enter it in TurboTax.

·         Click the Federal Taxes tab ( Personal in the Home & Business version)

·         Click Wages & Income. (Personal income in the H & B version)

·         On the screen "Your 2018 Income Summary," scroll all the way down to the last section, "Less Common Income."

·         Click the Start or Update button for the last topic, "Miscellaneous Income, 1099-A, 1099-C."

·         On the next screen, "Let's Work on Any Miscellaneous Income," scroll down and click the Start or Update button for the last topic, "Other reportable income."

·         The next screen asks, "Did you receive any other taxable income." Click Yes.

·         On the next screen, "Other Taxable Income," enter a description and the amount. Click Continue.

·         On the next screen click Done.

The income will be reported on Sch 1 line 21 with the description that you entered.