This box alerts the IRS that it should expect your gross
income (before expenses) to be at least $5000. This income goes on Schedule
C, which is the primary purpose of the Business tab of the online
Self-Employed. You are responsible for reporting the correct amount that you
took in, and you don’t need a 1099-MISC or any tax form to do so.
Box 9 is informational only and wouldn’t itself have any impact
on your tax return. Per the IRS instructions for Form 1099-MISC*,
Box 9. If checked, $5,000 or more of sales of consumer
products was paid to you on a buy-sell, deposit-commission, or other basis. A
dollar amount does not have to be shown. Generally, report any income from your
sale of these products on Schedule C (Form 1040).
If the 1099-MISC does not include any actual dollar figures
in another box, that’s okay. Don’t bother typing in a 1099-MISC form inside
Turbo Tax, since it contains no key values. Instead, enter your gross sales/ commissions
as “General Income”.
Go directly to the Business tab of Turbo Tax Self-Employed (or
Home and Business on the desktop). Click Start or Update next to Profit or Loss from Business (Schedule C) and account for all
of your income and expenses there. You
will account for the venture as a business, whether or not you define it as
such.
If the 1099-MISC form has a correct dollar amount in another box
(such as box 7), enter it and ignore box 9.
FYI:
Both 1099-MISC income and self-entered “General Income” hit line 1 of the
Schedule C. As a result, this would be where the IRS looked to ensure that you
reported your income. It would not be concerned with (or even know) whether a
box was checked inside of TurboTax.
https://www.irs.gov/pub/irs-pdf/f1040sc.pdf
