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I received a 1099-MISC for flat-rate travel reimbursement. Do I have to report this as income? If yes, how/where do I report the expenses? It's not self-employment.
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I received a 1099-MISC for flat-rate travel reimbursement. Do I have to report this as income? If yes, how/where do I report the expenses? It's not self-employment.
Yes, you are required to report this income. You would report this income and expenses in the Business section of TurboTax.
To enter this in TurboTax Self-Employed (online) or TurboTax Home & Business (desktop):
- Start under the Business tab
- How do you want to enter your business income?, then I'll choose what I work on
- In the "Business Income and Expenses" section, next to "Profit or Loss from Business", click Start or Update
- The next screen will ask "Did you have any income and expenses for a business in 2016?". Answer Yes.
- Follow the interview until you reach "Let's confirm your business info". Verify everything is accurate, then Continue
- Enter Business Information, click Continue
- Tell us about your business, click Continue
- Enter Employer ID Number, If Any, click Continue
- Do you use the cash method of accounting to run your business?, click Continue
- Did you make any payments that required you to issue a form 1099?, click Continue
- Do any of these uncommon situations apply to your business?, click Continue
- Let's confirm your business info, click Continue
- Your Business page
- Go to Business Income
- Business Income, then Click Start.
- General Income, click Start
- Tell us about additional income (Please note: it states Make sure to include any income reported on Form 1099-K and income from a barter or exchange)
- Type in your description, click Continue
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I received a 1099-MISC for flat-rate travel reimbursement. Do I have to report this as income? If yes, how/where do I report the expenses? It's not self-employment.
Is the income listed in box 7 on the 1099-MISC?
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I received a 1099-MISC for flat-rate travel reimbursement. Do I have to report this as income? If yes, how/where do I report the expenses? It's not self-employment.
Yes.
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I received a 1099-MISC for flat-rate travel reimbursement. Do I have to report this as income? If yes, how/where do I report the expenses? It's not self-employment.
Yes, you are required to report this income. You would report this income and expenses in the Business section of TurboTax.
To enter this in TurboTax Self-Employed (online) or TurboTax Home & Business (desktop):
- Start under the Business tab
- How do you want to enter your business income?, then I'll choose what I work on
- In the "Business Income and Expenses" section, next to "Profit or Loss from Business", click Start or Update
- The next screen will ask "Did you have any income and expenses for a business in 2016?". Answer Yes.
- Follow the interview until you reach "Let's confirm your business info". Verify everything is accurate, then Continue
- Enter Business Information, click Continue
- Tell us about your business, click Continue
- Enter Employer ID Number, If Any, click Continue
- Do you use the cash method of accounting to run your business?, click Continue
- Did you make any payments that required you to issue a form 1099?, click Continue
- Do any of these uncommon situations apply to your business?, click Continue
- Let's confirm your business info, click Continue
- Your Business page
- Go to Business Income
- Business Income, then Click Start.
- General Income, click Start
- Tell us about additional income (Please note: it states Make sure to include any income reported on Form 1099-K and income from a barter or exchange)
- Type in your description, click Continue