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Pegtech
Level 2
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  • I would like to add that when you enter a form 1099MISC into Turbo Tax and then select MCTR as the reason for the 1099, it does not affect your taxes owed. It a...
    Pegtech
    Updated Feb 21, 2023
  • Technically you should still claim the $350 as miscellaneous income on your federal return and then make an adjustment on your state return to subtract that amo...
    Pegtech
    Updated Feb 21, 2023
  • Do not omit the 1099 for the MCTR. This will either cause a delay with your refund or it will cause the IRS to determine that you did not report all of your inc...
    Pegtech
    1
    Updated Feb 21, 2023
  • I filed taxes for two friends this weekend. One was married filing joint, and one was single. Both received the CA MCTR. The single filer was accepted, the join...
    Pegtech
    Updated Feb 21, 2023
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