turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Deciphering Your Tax Forms on Feb 19! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

jms6262
Returning Member

I filled in a referral bonus in Other reportable Income. I also have it on 1099-Misc, since I received it in box 7. TT is requiring a link to sch c or another form? help

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

4 Replies

I filled in a referral bonus in Other reportable Income. I also have it on 1099-Misc, since I received it in box 7. TT is requiring a link to sch c or another form? help

What kind of bonus, who paid it, is it related to your regular job?
jms6262
Returning Member

I filled in a referral bonus in Other reportable Income. I also have it on 1099-Misc, since I received it in box 7. TT is requiring a link to sch c or another form? help

It's a student loan referral bonus. I received a 1099-Misc (line 7) from Credible. I followed these instructions, but now i'm getting stuck on the 1099-Misc worksheet.

You will go in TurboTax to:

Wages and Income

To Misc Income

to bottom one, Other reportable income, answer "Yes"

report the referral fee.

I filled in a referral bonus in Other reportable Income. I also have it on 1099-Misc, since I received it in box 7. TT is requiring a link to sch c or another form? help

If you aren't engaged in an ongoing trade or business, this should have been reported in box 3, not box 7.  If you leave it as "other income" and don't report the 1099, you will get a letter from the IRS asking about the missing form, answer by explaining that you reported it as other income and why it is not self-employment income.

Or, delete the entry for "other income" and enter the 1099-MISC in the interview.  Answer all the qualifying questions as No (not trying to make a profit, not related to your job, etc.)  That should put it back on "other income."  But, you still may get a letter asking why you didn't report it as self-employment income, to which give the same reply.

jms6262
Returning Member

I filled in a referral bonus in Other reportable Income. I also have it on 1099-Misc, since I received it in box 7. TT is requiring a link to sch c or another form? help

Awesome, thank you very much for the help!
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question