You have the option to report this as "Other Income" on your tax return. Start in Federal Taxes >> Wages & Income >> Other Common Income >> Income From Form 1099-MISC. Click "Start" and work through the interview. After entering the info from the 1099-MISC, continue until you see the question about this being connected to your main job, and say "no." Check only the box for 2023 income. Then answer that this was not an "intent to make a profit." Those three answers should classify this as "Other Income", which will appear on Line 8 on Form 1040.

Question

When trying to add a 1099-Misc it keeps adding a Schedule C when its not needed as I'm not reporting self-employment income. How do I fix this?

Forum|Forum|2 years ago
February 11, 2024
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TurboTax Deluxe Online

PatriciaV

You have the option to report this as "Other Income" on your tax return.

Start in Federal Taxes >> Wages & Income >> Other Common Income >> Income From Form 1099-MISC. Click "Start" and work through the interview.
After entering the info from the 1099-MISC, continue until you see the question about this being connected to your main job, and say "no." Check only the box for 2023 income. Then answer that this was not an "intent to make a profit." Those three answers should classify this as "Other Income", which will appear on Line 8 on Form 1040.