First, please enter form 1099-MISC as is and follow the interview questions. Most likely, box 3 of the form will be filled out. TurboTax will ask you to describe the reason for the form, you can indicate the fundraising reasons there. Then, you would go to:
- Wages & Income
- Less Common Income
- Miscellaneous Income
- Other Reportable income - enter your description and the 1099-misc amount as a negative number.
You will see that you will have two same figures on Schedule 1, line 21 : one as positive number (that's your 1099-Misc) and 2nd as a negative number, making the income nontaxable, but still reported on your tax return.
How to look up Schedule 1?
If you are working on line:
- Select TaxTools
- Select Tools
- Select View Tax Summary
- Select Preview my 1040 (on the left), scroll down to Schedule 1
If you have cd/download: go to Forms (upper right corner) and find 1040 Wks, scroll down to Schedule 1, OR find Schedule 1 and click on it directly