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Level 2
posted Jun 4, 2019 5:01:36 PM

I have received a 1099 Misc for excess group life insurance from my former employer. I am retired and do not work or have a business. How do I report this income?

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1 Best answer
Expert Alumni
Jun 4, 2019 5:01:37 PM

If you receive a form 1099-MISC for excess group life insurance, 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.

Answer 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:


1 Replies
Expert Alumni
Jun 4, 2019 5:01:37 PM

If you receive a form 1099-MISC for excess group life insurance, 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.

Answer 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: