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Imray
New Member

How to revent selfemployment taxes on dividends form 1099 Misc other income?

how to prevent paying self employment taxes on dividends, as the amount is being reported on 1099-MISC? Turbo tax states not to report under other income if you get this amount reported on the form. Dividends are not due to other job, but if I report them as Misc income, turbo tax automatically calculates self employment taxes on dividends. Why is this being treated as another job or how do I prevent this?

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4 Replies

How to revent selfemployment taxes on dividends form 1099 Misc other income?

In what box is the income on 1099-misc?

Imray
New Member

How to revent selfemployment taxes on dividends form 1099 Misc other income?

Box 3 thanks in advance for your help

How to revent selfemployment taxes on dividends form 1099 Misc other income?

In TurboTax, enter your form 1099-MISC in the 1099-MISC section and follow the interview until you arrive at the page titled Did this involve an intent to earn money?. Answer that this did not involve an intent to earn money. The amount will be reported as Miscellaneous income and will not be subject to Self-employment tax.

Imray
New Member

How to revent selfemployment taxes on dividends form 1099 Misc other income?

Thank you- that fixed it.

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