Think there is a mistake with Turbotax Premier software. I received a 1099-MISC for $17.00 in box 7 (Nonemployee compensation). It is for UAW legal service benefit. I am retired. The tax program puts it on Sch C. Should I override Line 21 on Form 1040 (other income) and list it as 1099-MISC income?
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Don't override. Instead, enter your 1099-MISC this way:
This will place your income on line 21 of your tax return, and there will be no Schedule C.
See the screenshots below. It's always better to use the interview entry points than to override the forms.
Don't override. Instead, enter your 1099-MISC this way:
This will place your income on line 21 of your tax return, and there will be no Schedule C.
See the screenshots below. It's always better to use the interview entry points than to override the forms.
Hi,
If I do not have capital gain or income to offset capital loss, can I carry forward my capital loss instead use $3000 allowable deduction?
Thanks.
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