I am using TurboTax 2017 Deluxe. I have entered amounts from three different 1099-MISC forms. However, after completing those in TurboTax, the Income Summary page shows a total of zero ($0) for the "Income from 1099-MISC" item.
That doesn't make sense to me. Is this an error in the TurboTax software?
The amount I owed in taxes increased while I was entering the 1099-MISC forms, but the value on the 1099-MISC row did not change on the Income Summary page.
Anyone know what is going on?
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When you enter Form 1099-MISC under the Personal income section of TurboTax, the program will often move it to other more appropriate sections of the program. Most commonly if it is self-employment income (i.e independent contractor), the value on the screen will get moved from Personal to a Business section. For the Deluxe, program it would get moved further down the screen under Business Items (Business Income and Expenses - Schedule C). So, all of the income numbers are still there in your return, it's just the on-screen value or display that gets moved.
When you enter Form 1099-MISC under the Personal income section of TurboTax, the program will often move it to other more appropriate sections of the program. Most commonly if it is self-employment income (i.e independent contractor), the value on the screen will get moved from Personal to a Business section. For the Deluxe, program it would get moved further down the screen under Business Items (Business Income and Expenses - Schedule C). So, all of the income numbers are still there in your return, it's just the on-screen value or display that gets moved.
Still broken in TurboTax 2020. My 2019 entries for last year show in two places, but 1099-MISC for 2020 shows zero, but if you click the Update button you can see the actual amounts. Not exactly confidence inspiring.
Staking income from Crypto was issued as 1099-MISC. After entering that income in Turbotax 2022 , it automatically moves to business section. Though not double counting, it is not represented well as business. The IRS form needs to know the business code, etc.- which is an additional complication.
Is the staking income issued on an IRS form 1099-MISC being reported as a self-employment activity?
If so, follow the steps below to report the IRS Form 1099-MISC as other income.
The entry will be reported:
View the entries at Tax Tools / Print Center / Print, save or preview this year's return / Include government and TurboTax worksheets.
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