How do I show that money on a 1099MISC I received was for an award my business won and that I transferred it all directly to the business so shouldn't be personal income?

nalexander · ‎February 6, 2020

DawnC · ‎February 6, 2020

If it is income for your business, it should be reported on your Schedule C. When you enter it, indicate that the income involves your work and TurboTax will transfer it to your business return (Schedule C).

Open your return and type 1099-misc in the Search box. Select the Jump to link. This will take you directly to the section where you can enter your 1099-MISC. You’ll also be able to enter any cash, personal checks, credit card payments, or cryptocurrency (Form 1099-K) related to your self-employment.

Related Information:

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

DawnC · ‎February 6, 2020

If it is income for your business, it should be reported on your Schedule C. When you enter it, indicate that the income involves your work and TurboTax will transfer it to your business return (Schedule C).

Open your return and type 1099-misc in the Search box. Select the Jump to link. This will take you directly to the section where you can enter your 1099-MISC. You’ll also be able to enter any cash, personal checks, credit card payments, or cryptocurrency (Form 1099-K) related to your self-employment.

Related Information:

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Expert does your taxes

Do it yourself

Resources

Support

How do I show that money on a 1099MISC I received was for an award my business won and that I transferred it all directly to the business so shouldn't be personal income?