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March 19, 2024
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Why do my entries for 1099-misc assume it's a business?

  • March 19, 2024
  • 1 reply
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When I enter my 1099-misc the results go to business
Best answer by PatriciaV

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

  1. Start in Federal Taxes >> Wages & Income >> Other Common Income >> Income From Form 1099-MISC. Click "Start" and work through the interview.
  2. 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."
  3.  Check only the box for 2023 income
  4. 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.

 

@Anita011 

1 reply

SharonD007
March 19, 2024

What type of income is your 1099-MISC from?  Is it rental income?  Is it from a settlement? Please clarify.

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Anita011Author
March 19, 2024

It is for years of service in a volunteer amublance system on NYS.

PatriciaV
PatriciaVAnswer
March 19, 2024

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

  1. Start in Federal Taxes >> Wages & Income >> Other Common Income >> Income From Form 1099-MISC. Click "Start" and work through the interview.
  2. 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."
  3.  Check only the box for 2023 income
  4. 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.

 

@Anita011 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"