Maybe I'm missing something but the 1099-misc i entered is not self-employment it is an incentive and not subject to self employment tax. Am I wrong or did I enter it in the wrong place? I would think federal tax on it would be ~half somewhere around $400 not $819. Thank you
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Are you using the Online TurboTax product? If so, do the following:
1. On the left, click on Tax Tools
2. Below that, click on Tools.
3. In the center, click on Topic Search.
4. Enter 1099-misc and click GO.
5. Enter your 1099-MISC information. If you are asked about business, just say NO.
In the CD/download TurboTax product, please do:
Go to Wages & Income->1099-Misc and Other Common Income->Income from form 1099-MISC. Again, deny that this has anything to do with business if it comes up.
The older versions of TurboTax made it easy to accidently enter a 1099-MISC as a business income but with this advice, you should be able to enter your form in the right place.
P.S., if you need to, go delete the form you entered earlier.
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