Question

1099-MISC Investment income is being routed to self-employment Schedule C income. How do I avoid this?

Forum|Forum|3 years ago
February 23, 2023
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TurboTax Premier Online

In TurboTax Online, enter Form 1099-MISC information in the section to which it pertains. In Wages and Income, there are several locations where you can enter a Form 1099-MISC.

If you enter Form 1099-MISC in the Other Common Income section, at the screen Does one of these uncommon situations apply, a list of options appears from which you can select that includes reasons for Form 1099-MISC other than self-employed income.

Investment income is not typically reported on Form 1099-MISC. Interest is reported on Form 1099-INT and Dividends are reported on Form 1099-DIV. Stock transactions appear on Form 1099-B.

If you were compensated for work as an independent contractor, your income would generally be subject to self-employment tax.

Please see this help article for more information.

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K

kksmarineno1

I had this problem last year. I have 1099-misc for interest earned on an investment. I have gone through the Other income section multiple times but can not find "Not self employment. " .. I am not self employed, I am retired.