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rapfoutz
New Member

I have a 1099Misc form which was a benefit but the software want to list it as a business.. How do i correct this????s

 
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MinhT
Expert Alumni

I have a 1099Misc form which was a benefit but the software want to list it as a business.. How do i correct this????s

If you receive a form 1099-MISC for a benefit, then you are not considered as self-employed and do not need to file a Schedule C.

In TurboTax, enter your form 1099-MISC 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.

In TurboTax, there is a work-around. Although you may receive this income every year, say that you only receive the 1099-MISC only in 2018, not in previous years and not in 2019, you will then have the screen where you can say that it did not involve an intent to earn money.

Please see the attached screenshot.


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MinhT
Expert Alumni

I have a 1099Misc form which was a benefit but the software want to list it as a business.. How do i correct this????s

If you receive a form 1099-MISC for a benefit, then you are not considered as self-employed and do not need to file a Schedule C.

In TurboTax, enter your form 1099-MISC 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.

In TurboTax, there is a work-around. Although you may receive this income every year, say that you only receive the 1099-MISC only in 2018, not in previous years and not in 2019, you will then have the screen where you can say that it did not involve an intent to earn money.

Please see the attached screenshot.


**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
MinhT
Expert Alumni

I have a 1099Misc form which was a benefit but the software want to list it as a business.. How do i correct this????s

How can I help you further? Did it not work for you?
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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