how to prevent paying self employment taxes on dividends, as the amount is being reported on 1099-MISC? Turbo tax states not to report under other income if you get this amount reported on the form. Dividends are not due to other job, but if I report them as Misc income, turbo tax automatically calculates self employment taxes on dividends. Why is this being treated as another job or how do I prevent this?
You'll need to sign in or create an account to connect with an expert.
In what box is the income on 1099-misc?
Box 3 thanks in advance for your help
In TurboTax, enter your form 1099-MISC in the 1099-MISC section and follow the interview until you arrive at the page titled Did this involve an intent to earn money?. Answer that this did not involve an intent to earn money. The amount will be reported as Miscellaneous income and will not be subject to Self-employment tax.
Thank you- that fixed it.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
swegmike
Level 2
qhgnlm
Returning Member
Don-TT
Level 3
dvallett
Returning Member
kkkkrause
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.