Why does 1099misc income show up as business income?

[taxing_the_pour]

Confused by turbotax treatment of misc income.

2021 there was promotion for setting up new account at brokerage.  When I downloaded info on taxes it downloaded this automatically in put it in 1000misc.  This seemed pretty easy - 

But then turbotax seems to want to make this some kind of business income and asks all kinds of detailed business questions . . . it has nothing to do w/ business.   Really confusing.

Also one comment - your earnings summary pages double-lists this - that was confusing as heck.

Is this error in turbotax or in statement sent by brokerage?   Is there some way to tell turbotax "hey its just personal income" ?

[ColeenD3 · Accepted solution]

It is not an error, but you can enter the form in such a way that it doesn't take you to Schedule C. 1099-MISC links to business since not everyone knows to use 1099-NEC.

Under Wages and Income, scroll down to Income from 1099-MISC.

• Enter the 1099-MISC exactly as printed, and then Continue.
• Describe the reason for this 1099-MISC: REASON
• Select None of these apply, then Continue.
• Select No, it didn’t involve work….. and Continue.
• Select No, it didn’t involve an intent to earn money, then Continue.
• Do you have another 1099-MISC? Select No, then Continue.

Click the DONE button, and that does it

[taxing_the_pour]

Wow that did it.

The question confused me.   We pursued bonus for the money obviously - but I guess "earned" on turbotax means did some work for money right?

Thanks that was huge help.