1099-misc what do i do

  • This is a balance from a retirement account.
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For 1099-MISC income, you are considered Self-Employed and will put your income and expenses on Schedule C.

Getting to Schedule C in TurboTax –

1. Federal Taxes tab

2. Wages and Income

3. Choose "explore on my own"

4. Business Items

(Or Go to Business (for TT Home and Business)
5. Business Income and Expense

TT will print out a Schedule C for your return. The Schedule C net profit or loss will show on the front page of your 1040.

 

IRS Schedule C form and Instructions:

http://www.irs.gov/uac/Schedule-C-(Form-1040),-Profit-or-Loss-From-Business

 

  • Is it's for something else, such as jury duty pay, please post back.
  • I did EXACTLY WHAT YOU SAID, AND IT WORKED PERFECTLY! Thanks so very much!
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