Why is my 1099 misc box 3 for $45 being placed on shedule C when it's for imputed income?

Why is my 1099 misc box 3 for $45 being placed on schedule C when it's for imputed income? Last year Turbo Tax put in "other income"

488

1 Best answer

Expert Alumni

Jun 5, 2019 11:05:54 PM

No problem. This payment can be reported on line 21 of the Form 1040.

In TurboTax Deluxe follow these steps to reach this result. TurboTax will walk you through the change in versions because this income is not allowed to be reported on a 1040EZ or 1040A.

Federal Taxes > Wages & Income > Other Common Income > Income from Form1099-MISC > Update
Edit > Continue (if all your information is there and the income is in box 3)
Type description, if necessary
Continue > Check None apply
No it did not involve work
Select got it in 2016
No it didn't involve an intent to earn money
Finish

This will place the amount on line 21 as it should. You can review your return by using the steps here.

My Account > Tools > View Tax Summary > Preview My 1040