How do I enter a 1099 misc when I don't own a business, and the money is a manufacturers incentive payment?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
lojokuhn
New Member

How do I enter a 1099 misc when I don't own a business, and the money is a manufacturers incentive payment?

The incentive payment is from GM for selling cars.  In years past, I have always clicked on the option "this is a manufacturers incentive payment," and it has never asked me to input information from a business that I don't have.  

1 Reply
Hal_Al
Level 15

How do I enter a 1099 misc when I don't own a business, and the money is a manufacturers incentive payment?

SPIFF (Special Performance Incentives for Field Force)  payments reported on Form 1099MISC; (1) are not treated as wages, (2) are not subject to federal income tax withholding, social security, Medicare, or federal unemployment tax, and (3) are not considered to be self employment income and, therefore, are not subject to self employment tax. http://www.irs.gov/pub/irs-pdf/p3204.pdf

 

In TurboTax, Enter at:

- Federal Taxes tab

 - Wages & Income

Scroll down to

  -1099-Misc and Other common Income

      - Income From 1099-Misc

 On the  follow up screen,  enter SPIFF in the blank box, then on the next screen,  on the drop down list, check “This was  a Manufacturer's incentive payment”

This will put it on line 21 of form 1040 (Schedule 1)


Dynamic AdsDynamic Ads
v
Privacy Settings