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adi1
New Member

Robinhood 1099 MISC

I received a $205 bonus from Robinhood for depositing some money into my account.

 

After connecting Robinhood to Turbotax, it automatically read in this 1099 MISC and populated the appropriate boxes with 205.

 

Then I am asked to describe the reason for this 1099 and I enter "Robinhood bonus". Next it asked me whether this was similar to my main work and I said no. Then it asked me, "“Did the Robinhood bonus involve an intent to earn money?”" What do I say to that?

If I say yes, it goes into the self employment section and this is not self employment!

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3 Replies
MindyB
Employee Tax Expert

Robinhood 1099 MISC

In order to report this bonus as "other income" and not self-employment income, answer "no" to the question "did this involve an intent to earn money."

Robinhood 1099 MISC

hi, 

I have encountered the similar issue. But the smart check reported an error that 

"Form 1099-MISC worksheet (XXXXX) : A link to schedule C, schedule F, form 4835, or the other income statement must be entered. To associate this amount with the proper tax form double-click on the field provided or check the box for the form you want to link this amount to"

what should I do to fix this error? Is it to open a schedule 1 and put 200 at line 8?

RobertB4444
Employee Tax Expert

Robinhood 1099 MISC

The 'other income statement' is line 8 of schedule 1.  That is indeed where this money belongs and the form that you should link it to.

 

@jimmyzzz95 

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