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pgkaufman
New Member

How to correct 1099-MISC from investments that turbo tax treats as job income?

It is investment income not from a job
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1 Reply
ToddL
New Member

How to correct 1099-MISC from investments that turbo tax treats as job income?

If the 1099-MISC reports investment income that is not related to your main job or self-employment, enter the information as follows in the 1099-MISC interview:

  • Enter the 1099-Misc in the Other Common Income section (Enter "1099misc" in the Search Box and Select "Jump to 1099misc")
  • For "Description", enter "Passive Investment Income"
  • Also check that it does not involve work like your main job, that it did not involve an intent to make money, and is not a recurring payment (received in the past or expected in the future) (these questions only apply to active, not passive, income).
  • The income will be reported on line 21 of your return.

If you have already entered the 1099-MISC with different responses, you will have to delete the 1099-MISC (and any associated forms or worksheets, such as a Schedule C). See: How do I delete forms in TurboTax Online?

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