In New York State, I received PFL from a third party insurance company on a 1099-MISC. If I enter it in TurboTax on a 1099-MISC, it is treating it as business income and generating self-employment tax.
How should I treat this 1099-MISC?
Thank you in advance.
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The PFL qualifies as unearned income. To report the 1099-MISC follow the steps below:
6. On the screen below, enter the description and amount.
7. Continue > Done.
Thanks for your help. But the instructions you seem to give does not apply to the desktop version of TurboTax. Or at least it does not apply to my version.
Under Wages & Income, scroll all the way down to Other Misc Income, 1099-A, 1099-C.
On the next screen, scroll all the way down to Other Reportable Income.
On the next screen, Add Taxable Income.
Enter Description/Amount.
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