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Reporting Miscellaneous Income without a 1099-MISC
Hello,
I received $250 for participating in a psychological study at a college but did not receive a 1099-MISC. Do I have to report this income on my tax return? And how do I report it using TurboTax? I tried entering this miscellaneous income in my Turbotax return, but because I don't have a 1099-MISC, it kicked me out of the screen for miscellaneous income. I'm confused about how to report this extra income.
Thank you for the help!
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Reporting Miscellaneous Income without a 1099-MISC
Since this is not a business, and there is no 1099, I would put the $250 into Line 21 of Schedule 1. Do this by going to personal income/less common income/miscellaneous income/other reportable income. Click that you had taxable income. You should get to a page with 2 entries to enter data. For the "Description" enter something like School Psych Study. Then enter the amount. Check Line 21 of Schedule 1 to be sure the value went to the desired location in the return.
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Reporting Miscellaneous Income without a 1099-MISC
Now it would be Schedule 1 line #8
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Reporting Miscellaneous Income without a 1099-MISC
In TurboTax follow these steps to put the income in:
- Federal
- Wages and Income
- Less common income
- Miscellaneous Income, 1099-A, 1099-C
- Other Reportable Income
- Describe the reason for the income
This income will go on Schedule 1, Line 8
[edited4/10/2021 | 3:29 pm PST]
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