1099-misc

Forum|Forum|6 years ago
February 20, 2020
2 replies
23 views

I have a 1099-MISC form with the only box filled in is the Net Settlement box. Where do I enter the amount on the 1040 form?

1099

Best answer by AmyC

To enter the 1099-MISC follow this link: Where do I enter a 1099-MISC?

There is no net settlement box on the 2019 1099-MISC. Here a link to the form and instructions.

AmyCAnswer

Level 15

To enter the 1099-MISC follow this link: Where do I enter a 1099-MISC?

There is no net settlement box on the 2019 1099-MISC. Here a link to the form and instructions.

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cbruceuss

Level 2

What am I missing? I type in Search box 1099 also tried 1099-MISC. I never get a jump to link.

LeonardS

Level 14

Your net settlement will be reported on Form 1040 Schedule 1 Line 8 other income. To enter your net settlement from form 1099-MISC follow these steps.

With TurboTax open select Wages & Income.
Scroll down to Less Common Income and select Miscellaneous Income, 1099-A, 1099-C
On the next page, select Other reportable income
On the page, Other Taxable Income enter Net Settlement In Program in the description.

This will put the income on Schedule 1 Line 8 of your Form 1040, as required by the IRS. You will pay state and federal income tax on the amount, but it will not be subject to self-employment tax.

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cbruceuss

Level 2

Thank you for the quick reply. I am needing help as to how to input a 1099-MISC my S-Corp received.

cbruceuss

Level 2

If you received the 1099-Misc for your S-Corporation, you would enter the 1099-Misc on your 1120-S income tax return through TurboTax Business.

l9ol...That's the problem. I can not find where. I always use TurboTax Business, but first year I received a 1099-MISC. I tried the search but it does not offer a clickable area to g o to. I also tried going through all the income sources.