I have misc income from my brokerage firm not work related how do I enter this in turbo tax and what should the tax be

[rjs]

Please provide more details.

Is the income from a brokerage firm where you have investments, or a brokerage firm that you work for?

What is the nature of the miscellaneous income? Why did you get the income? Was it actually paid by the brokerage firm or is it from an investment that you hold in your brokerage account?

Why did you point out that it is "not work related"? Is there something about it that might make it seem to be work-related?

Was the income reported on a 1099-series form such as 1099-MISC, 1099-NEC, 1099-B, 1099-DIV, etc., or on a W-2? Which box of the form is the income in? If it's shown on a consolidated brokerage statement, it should be in a section of the statement that is a substitute for a separate 1099-series form. If so, which form is it, and which box is the income in?

Are you using TurboTax Online or the downloaded desktop TurboTax software? What edition are you using (Basic, Deluxe, etc.)?

We won't be able to tell you how much the tax will be on the miscellaneous income in isolation, because the amount of tax depends on your other income and other things in your tax return. But if you provide the details we should be able to tell you how to enter it in TurboTax, and whether it will be subject to any special treatment.

[VC20]

The income is from investments by the brokerage firm in my account.   it was reported on a consolidated statement under 1099 Misc box 3 other income. I am using turbo tax premier on my home desktop software downloaded purchased from Amazon. 

[DianeW777]

It's still not quite clear what the money represents. Since you did not work for the brokerage, the income reported on Form 1099-MISC, Box 3 should be reported on your tax return under Other Common Income.

1. Open your TurboTax Desktop return > Search (upper right) > type 1099misc > Click on the Jump to.. link
2. Begin your 1099-MISC entry.  Be sure to say 'No' to the following questions during this entry.
   1. Did the Brokerage Incentives involve work that's like Your main job?
   2. Did the Brokerage Incentives involve an intent to earn money? (you did not work for this money)
   3. Finish the screens for this section.
3. You specifically indicated you did not work for this money and only investments provided these funds.

@VC20 

[rjs]

I would add to the instructions that DianeW777 gave you:

If TurboTax asks how often did you get the income, "I got it in 2024" will be checked. Do not check any of the other boxes.