I have information in Box 6 of a 1099-MISC. After I enter the information, TurboTax wants me to select and enter a business, I am not self-employed, and I do not own a business. How am I supposed to enter this when I don't own a business but it keeps asking me for one.
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Enter information from Form 1099-MISC Box 6 (Medical Payments) in TurboTax online program, go to:
Yes I did that, but now it’s asking me to input a business for a schedule C which I don’t have.
This is taxable income but it is not self-employment income to be reported on Schedule C Profit or Loss from Business.
Report the income as Other Income on Schedule 1 line 8z and line 8 on IRS Form 1040. Follow these steps:
I did that, but when I go to put the information in that box it says “Do not put other income from form 1099-MISC here”
To clarify, what was this issued to you for? Box 6 is to report medical and health care services to other business's that you provided costing at least $600 to other business's. The way this is recorded in your 1099 MISC, you are in the business of providing medical and health services and this is why it's asking you information about your business.
I am not a business and I am not self-employed. I received a reimbursement from my insurance company due to travel for a medical procedure. So we then received this 1099-MISC with the amount we were reimbursed in box 6. I don’t own my own business or anything like that.
It appears the reimbursement was reported to you in the wrong box. As long as you report the income from Form 1099-MISC on your tax return, you have met the IRS requirements.
To correctly report this transaction, enter the payment amount under Box 3 "Other Income" in the TurboTax 1099-MISC entry screen. As you continue through this section, TurboTax will ask you more about the source of this income and if it was related to your job (say "no"). The result will be income on Schedule 1 Line 9.
The offset to this income would be reported under Medical Expenses. If you itemize your deductions, you may be able to deduct the medical and dental expenses that exceed 7.5% of your adjusted gross income for the year. TurboTax will help you determine if your medical expenses are deductible.
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