How do I enter an income for Schedule 1 on line 8z Other Income?

Forum|Forum|2 years ago
July 1, 2023
2 replies
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Really need help! I didn't have this issue for the past few years. I have a form 1099-Misc, which has some sort of distribution of coupon interest from securities where the distribution of interest is treated as Ordinary Income (but not Capital Gain). In the past few years, when I chose "None of These Apply" when turbos tax asked the type of the income (e.g. farm, rental, prize) , that income will be put onto line 8z as Other Income on Schedule 1. But this year, Turbo tax continues to put it onto Schedule C and also Schedule 1 as business income or loss. Whatever description I put for this income, as long as I chose "None of These Apply" when asked the type, it will go to Schedule C. How can you fix this or where to manually enter this onto Schedule 1 Line 8z

Best answer by DoninGA

After completing the Form 1099-MISC in the program the interview will ask you How often did you receive these Payments? Only choose tax year 2022 and not any other years. Then answer No to the question about the intent to earn money.

The program will then enter the amount from box 3 of the 1099-MISC on Schedule 1 Line 8z

This is assuming the income was reported in box 3 of the 1099-MISC and you have already answered NO to the question about payment involving work like from your main job.

DoninGAAnswer

Employee

The program will then enter the amount from box 3 of the 1099-MISC on Schedule 1 Line 8z

This is assuming the income was reported in box 3 of the 1099-MISC and you have already answered NO to the question about payment involving work like from your main job.

Critter-3

Enter this Miscellaneous Income:

Click on the Federal tab.
Click on Income & expenses.
Scroll down to Less Common Income.
Click on Start or Update button Miscellaneous Income, 1099-A, 1099-C
On the next screen (Let's Work on Any Miscellaneous Income), click the Start or Update button for Other reportable income.
Did you receive any other taxable income. Click Yes.
Other Taxable Income, enter a description and the amount. Click Continue.
Click Done.

The income will be reported on Schedule 1 line 8 (z) with the description that you entered.

DoninGA

Employee

@Critter-3 Yep...Keep forgetting about that procedure. Thanks.

jannethuAuthor

😀Thank you so much! I just filed my tax, finally. My tax situation changed a lot for 2022. I fixed so many problems in the past few weeks and today I was stuck again in the last bite. I appreciate your help and in such a short time. You are all level 100. Happy July 4th!!!!