Solved

Rec'd 6+ 1099's for income rec'd by the new owner of the business I sold in prior yr. I am amending my return to include the forms that were not corrected as requested.

Forum|Forum|7 years ago
June 4, 2019
1 reply
0 views

I want to report the income and then deduct it back off. I cannot figure out how to do this using turbo tax - what section would I use to deduct it? Please be specific if you can on where to deduct it.

TurboTax Home & Biz Windows

Best answer by RichardG

Please go to Federal Taxes>Wages & Income>Less Common Income>Miscellaneous Income>Other Reportable Income. Answer "yes" on the next screen. On the screen after that, enter an explanation. Enter a negative number for the total amount of the 1099-MISC forms.

R

RichardGAnswer

Employee

Please go to Federal Taxes>Wages & Income>Less Common Income>Miscellaneous Income>Other Reportable Income. Answer "yes" on the next screen. On the screen after that, enter an explanation. Enter a negative number for the total amount of the 1099-MISC forms.