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smmauch
New Member

I received a 1099 Misc for coupon interest from securities It is listed as "Other Income" how do I enter this info without turbo tax thinking it is self employment

 
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1 Reply
PattiF
Expert Alumni

I received a 1099 Misc for coupon interest from securities It is listed as "Other Income" how do I enter this info without turbo tax thinking it is self employment

Here's how to enter a 1099-MISC with income in box 3 in TurboTax so that it is reported as "other income" instead of as business income. It will be reported on Schedule 1 line 8z with the description "Other Income from box 3 of 1099-Misc."

 

  1. In the Search box type "1099-misc" (without the quotes), then click the link that says "Jump to 1099-misc."
  2. The first screen asks "Did you get a 1099-MISC?" Click Yes.
  3. On the next screen enter the information from the 1099-MISC form, then click Continue.

 

TurboTax will now ask a series of questions about the 1099-MISC income. Answer as follows, even if some of the answers aren't true.

 

  • "Describe the reason for this 1099-MISC." - Enter a short description such as "Coupon interest." Click Continue. 
  • "Does one of these uncommon situations apply?" - Select the last choice, "None of these apply," and click Continue.
  • "Did the Coupon interest involve work that's like your main job?" - Select No and click Continue.
  • "How often did you get income for Coupon interest?" - "I got it in 2022" will already be checked. Don't check any of the other boxes. Just click Continue.
  • "Did the Coupon interest involve an intent to earn money?" - Select No and click Continue.
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