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July 15, 2020
Question

1099-misc appears in business and personal

  • July 15, 2020
  • 1 reply
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I have 1099-misc income for my business (self-employed) as well as my rental properties.   

 

In the "personal income" section, I have 1099-misc appears in business and personal.  Altogether I have 19 such 1099's.  

 

On the "2019 Income Summary" section, under "Other Common Income", one can click and view all of those - whether they are from my business or my rental operations.  What is odd is that while the total inside of that section is one figure (which is accurate), the amount specified out on the summary page is $4543, which is the total of just 2 of those (business-related) 1099's.

 

Why would  this be the case?

 

1 reply

July 15, 2020

At this point, ignore the 2019 Income Summary. On these summary pages, TurboTax sometimes conflates taxable and nontaxable items, reports items even though they are not taxable income, and the like.

 

Instead, look at your Schedule C, Schedule E, and your 1040 to make sure that everything is reported once and only once.

 

Your tax return is what is important.

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gregd1525Author
July 15, 2020

@BillM223  - when under pressure, it's so easy to not see the forest for the trees.  You response was perfect.  Thank you

July 15, 2020

You're most welcome. Happy Tax Day!

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