Where do I enter income from 1099-Misc box 3? The transaction is described as Contract Fee on Contingent Coupon Callable Yield. How do I report this income?

[taxextra]

the software puts me to Form C which is for business owners. I have tried other income options, but I am unable to get rid of Form C.

[LisaBr]

When entering this 1099-MISC, you will need to answer the subsequent questions so that the income flows to Line 21 and your description of the activity will show on this line as well.  This will not report the 1099-MISC as a separate business.

Go to Federal, then Wages and Income.  From there, choose Other Common Income.  Once in this section, choose 1099-MISC.

1.  Describe reason for 1099-MISC  (Contract Fee on Contingent Coupon Callable Yield)

2.  Identifying if any of the less common situations for receiving the money applies to your situation.  If none, choose None of these apply at the bottom of list.

3.  Did this work involve activities LIKE your main job?  Focus on basic skill necessary, not the employer.  If you answer yes, TurboTax will let you know you can deduct expenses for this activity.  You should answer No.

4.  Did the activity involve an intent to earn money?  Did you do this activity with the sole purpose of earning money or was it a happy bi-product.  The answer is also No here since it was not an activity you pursued.