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rob0391
Returning Member

I received a 1099-misc with box 3 (other income) filled in from my bank for a dividend payment Followed the advise here but it still wants to count it as self employment

I received a 1099-misc with box 3 (other income) filled in from my bank for a dividend payment.  I have followed the advise here but it still wants to count it as self employment for a business and is creating a schedule c.  It is also putting an X in the section that says "If business was operated by the taxpayer check this box". It will not let me change or remove that and that is causing a schedule SE (self employment tax) to be created which is not correct. 

How can I correct this? 

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2 Replies
ee-ea
Level 15

I received a 1099-misc with box 3 (other income) filled in from my bank for a dividend payment Followed the advise here but it still wants to count it as self employment

To enter miscellaneous income in TurboTax Online or Desktop at line 21, please follow these steps:

  1. Once you are in your tax return, click on the “Federal Taxes” tab ("Personal" tab in TurboTax Home & Business)
  2. Next click on “Wages & Income” ("Personal Income" in TurboTax Home & Business)
  3. Next click on add more income “I’ll choose what I work on” (jump to full list)
  4. Scroll down the screen until to come to the section “1099-MISC and Other Common Income
  5. Choose “Income from Form 1099-MISC” and select “start’
  6. Enter your 1099-MISC information
  7. Click through the screen for work description.
  8. Does one of these uncommon situations apply? - None of these apply
  9. Did the involve work that's like XXXX main job? - No
  10. How often did (you) get income for ? Just leave as 2017 only
  11. Did the involve an intent to earn money? No

Now your income will be reported on line 21 on your 1040.


rob0391
Returning Member

I received a 1099-misc with box 3 (other income) filled in from my bank for a dividend payment Followed the advise here but it still wants to count it as self employment

I have done all that however TurboTax it is the result of doing that that is causing my problem.  ... it still wants to count it as self employment for a business and is creating a schedule c.  It is also putting an X in the section that says "If business was operated by the taxpayer check this box". It will not let me change or remove that and that is causing a schedule SE (self employment tax) to be created which is not correct.

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