taxable employee benefits

Forum|Forum|2 years ago
March 27, 2024
2 replies
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TurboTax can not seem to handle a taxable employee benefit. US congress made some employer benefits taxable which has been for a few years now they changed the tax code a few times and seemed to settle on MISC income but TurboTax can't make it work for that.

TomK2023

Level 15

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lbgolfman81Author

Level 2

I struggle with this every year. I am a retiree with a benefit from a former employer. the IRS determined this to be a taxable benefit, which they have tried to code different a few times to make it work, now we get a 1099-MISC to be declared as other income, with no other forms to be filed, although Schedule 1 form 1040 lines 8z and line 10 can be used.

Will you please investigate this?

Yours truly

Larry Beeman

Vanessa A

Level 15

To enter the 1099-Misc as non-self-employment income take the following steps:

Income
1099-MIsc under Other Common Income
Enter the information from the 1099-MIsc
Continue through and say the work does NOT involve work that is like your main job
Select the years you received it
Say no, to did this involve an intent to earn money

This will enter the income on line 8z of Schedule 1.

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