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ediecrev
New Member

I have a 1099-MISC that has in box 3 "other income".When I printed a self employment tax form printed. is this correct? Income was from a medical study

 
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2 Replies
Carl
Level 15

I have a 1099-MISC that has in box 3 "other income".When I printed a self employment tax form printed. is this correct? Income was from a medical study

You just entered it wrong is all. You need to go back and delete the 1099-MISC completely, then re-enter it as below.

Reporting 1099-MISC (box 3 or box 7) that is not self-employment income

Under the Wages & Income tab (or Personal Income tab) scroll down to Other Common Income and elect to start/update Income from form 1099-MISC. Then click YES to indicate you have a 1099-MISC.

Enter the 1099-MISC exactly as printed, and then Continue.

Enter the reason you got this money – be it scholarship, bonus, streaking butt naked across the 50 yard line of the super bowl, whatever. Then continue.

Select None of these apply, then Continue.

Select No, it didn’t involve work….. and Continue.

Select ONLY the tax year for which this specific 1099-MISC was issued. Do not select the year that you received the 1099. Select the year for which the 1099-MISC was issued. Select no other year. Then Continue.

Select No, it didn’t involve an intent to earn money, then Continue.

Select NO, then Continue.

Click the DONE button, and that does it.

You "might" also need to go into the Business Income & Expenses (SCH C) section and delete the "business" that will most likely be listed there.

ediecrev
New Member

I have a 1099-MISC that has in box 3 "other income".When I printed a self employment tax form printed. is this correct? Income was from a medical study

Thank you so much for your help!!
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