turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
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
Close icon
Do you have a TurboTax Online account?

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

smmauch
New Member

I have a 1099misc income for bank notes and the system wants to make it self employment income, how do you get around this?

 
Connect with an expert
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.

1 Reply
DawnC
Employee Tax Expert

I have a 1099misc income for bank notes and the system wants to make it self employment income, how do you get around this?

You must answer the follow-up questions correctly to have it reported as other income rather than self-employment income.   Am I Self-Employed?  

 

Under Other Common Income, select Start or Revisit next to Form 1099-MISC.   Enter your 1099-MISC info on the Let's get the info from your 1099-MISC screen and click Continue.  If you’re editing a 1099-MISC you already entered, select Edit next to your form.

 

  1. On the Describe the reason for this 1099-MISC screen, enter a description of the other income.
  2. Select None of these apply on the Does one of these uncommon situations apply? screen.
  3. Select No, it didn’t involve work like my main job on the Did the involve work that's like your main job? screen.
  4. Select I got it only in 2023 on the How often did you get income for? screen.
  5. Select No, it didn’t involve intent to earn money on the Did the work involve an intent to earn money? screen.
  6. Select No on the Do you have another 1099-MISC? screen.   

Answering differently to any of these questions will imply self-employment and generate Schedule C.  

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

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies