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Here's how to enter a 1099-MISC with income in box 3 in TurboTax so that it is reported as Other income on Form 1040 line 21 with the description "Other Income from box 3 of 1099-Misc."
Here's how to enter a 1099-MISC with income in box 3 in TurboTax so that it is reported as Other income on Form 1040 line 21 with the description "Other Income from box 3 of 1099-Misc."
When I followed your instructions, The system is still taking me to a self employment form and we are not self employed. how do I bypass this?
If you have income reported in Box 7 of Form 1099-MISC TurboTax will direct you to the self-employment section because for tax purposes, you are self-employed and must pay self-employment taxes on this income.
If you do not have this type of income, please give us a little more information so that we can assist with providing you with better directions.
I am also having this problem.... I earned interest on my Crypto Currency holdings and have Box 3 completed for Other income. WHen filling out the forms, it ends up taking me to self employment targeted questions. All I did was deposit crypto into a lending platform and collected interest on that amount. Why is it pushing me to Self Employed question?
In past most 1099-MISC forms were for some form of self-employment. That clearly does not apply in your case.
Since you have already had error messages related to the way the 1099-MISC was entered, you need to delete what is in there already.
If you are using TurboTax Online:
If you are using the Desktop version (disc or download):
After deleting the forms, run the Federal review or Smart Check to make sure all the error messages are resolved. Once the return is clear of error messages, enter the form like this.
Here is how to enter your 1099-MISC box 3 amount:
Amount shown in box 3 is income from structured products. Have entered that as description but program keeps circling - did you get a 1099K? Answer No. When did you get income? 2023. Back to "did you get a 1099K?
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