No I didn't get a w2 for this. Just a 1099-Misc and the only box with anything in it is the 15b but turbo tax won't let me continue b/c it says it exceeds the amount in box 7. Which it does b/c its empty
Yes, I understand how the software is handling it. Was this amount a withdrawal from a deferred compensation account? Typically related to educational positions. Otherwise, why did you receive this money? Did you work for it this year or a year in the past?
The 1099-MISC instructions say that the amount in box 15b (Section 409A deferred Income) must also be included in box 7. If it is not, contact the issuer of the 1099-MISC for a corrected form.
This is he only form I got from this employer. No withdrawl or educational position. Just hourly contract work that I will not be continuing.
Box 15b has nothing to do with education, it is deferred income that must also be in box 7. Talk to the issuer of the form for a correction.
When a form isn't completed correctly, you must get the issuer of the form to correct it. You can refer to the instructions for Form 1099-Misc box 15B "Nonqualified deferred compensation (section 409A income)" on page 8 HERE.