I entered my 1099 from Robin Hood and it included income in the 1099-MISC section. It's asking me business info, what do I put? Its investments not "other employment"

[VictoriaD75]

You may have entered the information incorrectly. What type of income are you trying to report? Is it a 1099-DIV or 1099-B? You may need to delete your original 1099 entry and re-enter the information. A 1099-DIV will be entered under Interest and Dividends. A 1099-B will be entered under Investment Income.

[mc30]

I have this same issue.

Robinhood issues a 1099-MISC for any free stock you received for referrals in box 4.

The problem is that Turbo Tax assumes any 1099-MISC is a business and then requires me to provide a business license and in my state that will also make the income subject to state excise tax.  This doesn't make sense as trading stocks and securities at a personal level isn't considered a business.

[JohnB5677]

You absolutely should report the income.  However, I do understand your point.  I suggest you enter this under:

• Income
• I'll choose what I work on
• Scroll to the bottom Less Common Income
• Select Miscellaneous Income 1099-A, 1099-C
• Scroll down and select Other reportable income
• Enter your description and amount here.

[pproballer20]

That would be great and all except the turbotax program explicitly says not to report income listed on a 1099-MISC when you go through those steps

[ThomasM125]

If you indicate that the income is not related to your job, and it is not recurring then it will be treated as other income on your tax return and that is the correct treatment of it.