I received a 1099-misc for crypto stablecoin interest yield, which should just be passive "other" income, but TT categorizes it as self-employment income. How to change?

Forum|Forum|1 year ago
April 2, 2025
1 reply
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It does not give any option to count it as other income, it just asks which of my other schedule C should it be included in or to create a new one. There is no reason I should have to pay SE tax on this passive income

Best answer by NicolleR1

Make sure that you are entering in the correct section. A 1099-MISC can be issued for a variety of reasons. To enter this as "Other Income", follow the instructions below.

If you are using TurboTax Online

From the Home screen select Income. Scroll down and click on +Add Income
Locate Other Common Income. Click on Income from Form 1099-MISC, and Add.
- This will add the form to the main screen. Go back to the main page and under Income you will see the section to enter your 1099-MISC. (answer corresponding questions)

If you are using TurboTax Desktop

From the main screen select Federal Taxes, and then Wages & Income.
Scroll down until you see 1099-MISC and other Common income and then Income from Form 1099-MISC. Click on start and answer corresponding questions

NicolleR1Answer

Make sure that you are entering in the correct section. A 1099-MISC can be issued for a variety of reasons. To enter this as "Other Income", follow the instructions below.

If you are using TurboTax Online

From the Home screen select Income. Scroll down and click on +Add Income
Locate Other Common Income. Click on Income from Form 1099-MISC, and Add.
- This will add the form to the main screen. Go back to the main page and under Income you will see the section to enter your 1099-MISC. (answer corresponding questions)

If you are using TurboTax Desktop

From the main screen select Federal Taxes, and then Wages & Income.
Scroll down until you see 1099-MISC and other Common income and then Income from Form 1099-MISC. Click on start and answer corresponding questions