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BT56
Level 1

1099 MISC

I got a 1099 MISC from Morgan Stanley which was a credit for their American Express Credit Card. TurboTax keeps adding it to my Schedule C as income and I don't know the solution. 

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1 Reply
LeonardS
Expert Alumni

1099 MISC

To add your 1099-MISC from Morgan Stanley so it is not reported on Schedule C follow these steps:

  1. Open or continue your return, if you're not already in it.
  2. Search for 1099-MISC and select the Jump-to link.
  3. On the page 1099-MISC summary check Add a 1099-MISC
  4. Answer the questions on the page Let’s get info from your 1099-MISC. 
  5. On the page Describe the reason for this 1099-MISC enter the reason for the 1099-MISC
  6. Answer Does one of these uncommon situations apply?
  7. Answer Did this involve work that's like my main job?
  8. Answer How often did you get this income?
  9. Answer Did this involve an intent to earn money?
  10. Answer the remaining on-screen questions.
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