Solved
misc income from a financial company has never asked question in previous years it is under $16 how do I continue in turbo tax if I don't have answers.
What questions are you being asked, and what is the income for? You may want to delete the 1099 and re-enter it. To enter a 1099-MISC, that is for miscellaneous income, not for self-employment or rental income, follow the steps below.
Under Other Common Income, select Start or Revisit next to Form 1099-MISC. Enter your 1099-MISC info on the Let's get the info from your 1099-MISC screen and click Continue.
- On the Describe the reason for this 1099-MISC screen, enter a description of the income.
- Click Continue.
- Select None of these apply on the Does one of these uncommon situations apply? screen.
- Select No, it didn’t involve work like my main job on the Did the involve work that's like your main job? screen.
- Select I got it only in 2024 on the How often did you get income for? screen.
- Select No, it didn’t involve intent to earn money on the Did the work involve an intent to earn money? screen.
- Select No on the Do you have another 1099-MISC? screen.
Answering differently to any of these questions will imply self-employment and generate Schedule C.
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