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Itswoot
New Member

Turbo tax problem

Brokerage firm reported  18cents on a 1099 MISC  that is imported with the rest of the capital gains, dividends .  Now Turbo Tax want me to complete a schedule C.   how do i correct this so I can file the my taxes.

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1 Reply

Turbo tax problem

Delete the 1099-MISC entry from the investment income and enter it as other common income

 

  1. Federal
  2. Wages and Income
  3. Stocks, Mutual Funds, Bonds, Other
  4. Find the 1099-MISC, document the information and then delete it
  5. Other common income
  6. 1099-MISC
  7. Enter the $0.18 in Box 3 - Other Income
  8. Describe reason - imported from brokerage
  9. It was not an intent to earn money

 

This will enter it on your return and stop TurboTax from wanting a Schedule C.  Keep a notation with your taxes in case you ever have to explain this entry.  

 

 

 

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