I don't have a business, what is my business code on form 3514?

Forum|Forum|3 years ago
April 8, 2023
2 replies
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Got money from a lawsuit settlement. Entered a W-2 and a 1099-MISC, and now I'm being asked for a business code for the Form 3514. No clue what that means. I don't own a business.

TurboTax Deluxe Online

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Employee

https://ttlc.intuit.com/turbotax-support/en-us/help-article/income/report-1099-k-dont-business/L1kuNpKvZ_US_en_US?uid=lg7hnwb7

ErnieS0

Go back and review your 1099-MISC entry. Make sure you told TurboTax the money came from a legal settlement. That will remove the business questions on California Form 3514.

Sign in to TurboTax and open or continue your return
Search for 1099-misc and select the Jump to link
On "1099-MISC Summary" tap EDIT
Skip "Let's get the info from your 1099-MISC
On "Describe the reason for this 1099-MISC" skip if your description is correct
On "Does one of these uncommon situations apply?" select This was money from a lawsuit settlement

See Where do I enter an award from a taxable legal settlement?

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