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You can report this as other income. To report other income, follow these steps:
1. Navigate to Federal; Income; Wages & Income Summary
2. Go to Less Common Income; Miscellaneous Income, 1099-A, 1099-C
3. "Start" Other reportable Income
4. Say "Yes" to Did you receive any other taxable income?
4. Click the plus sign (+) to add a miscellaneous income Item
5. Add a brief description and the amount.
Note that you may not need to file a return, since you are likely under the filing threshold. For a single person in 2025, you only need to file a 1040 if your earned income was more than $15,750 or your unearned income was more than $1,350. You can visit your state's Department of Revenue website to find out if you are required to file a state return.
You can report this as other income. To report other income, follow these steps:
1. Navigate to Federal; Income; Wages & Income Summary
2. Go to Less Common Income; Miscellaneous Income, 1099-A, 1099-C
3. "Start" Other reportable Income
4. Say "Yes" to Did you receive any other taxable income?
4. Click the plus sign (+) to add a miscellaneous income Item
5. Add a brief description and the amount.
Note that you may not need to file a return, since you are likely under the filing threshold. For a single person in 2025, you only need to file a 1040 if your earned income was more than $15,750 or your unearned income was more than $1,350. You can visit your state's Department of Revenue website to find out if you are required to file a state return.
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