Received 1099-MISC from my investment broker for interest from stock yield enhancement program (box 3, $367.18) and from dividends received when my shares were on loan (box 8, $20.90). How do I enter this in TurboTax. The program seems to want to turn this into a Schedule C, but I'm thinking this should just go on line 21, Other Income. Is that right? How do I do this? Thx!
Yes, that is right. You can use the steps below to enter your income so that it will appear on line 21, Form 1040.
In TurboTax follow these steps to reach this result.
This will place the amount on line 21 as it should. You can review your return by using the steps here.
To use this tool while you are signed into your TurboTax account (online) follow the steps here.
To use this tool while you are signed into your TurboTax account (desktop).
Yes, that is right. You can use the steps below to enter your income so that it will appear on line 21, Form 1040.
In TurboTax follow these steps to reach this result.
This will place the amount on line 21 as it should. You can review your return by using the steps here.
To use this tool while you are signed into your TurboTax account (online) follow the steps here.
To use this tool while you are signed into your TurboTax account (desktop).
Can We get an update for 2019? This procedure in 2019 still generates a Sch C
This can be handled in the Less Common Income option. To enter in TurboTax, follow these steps:
THANK YOU KathrynG3
Finally, this has been an issue for me for several years and I have had to manually override the forms.
Thank you.
thanks for this.
When we follow this process do we then ensure it is not entered in the usual place they ask for 1099-MISC info and if they already have uploaded it from the brokerage account direct feed we should delete it?
Good point. Should the 1099-MISC be deleted after the income is entered in "Other Taxable Income"?
TIA
Nick
Yes, the information should only be entered into the program once. To delete Form 1099-MISC see the steps below: