Skip to main content
July 11, 2020
Question

How to not file as a business owner with a 1099misc

  • July 11, 2020
  • 1 reply
  • 0 views

I got a free stock from robinhood for signing up, sold it and then traded it for crypto and some penny stocks.

 

Now I'm trying to do my taxes and when I enter the information from my 1099-misc (box 3 is the only box that isn't blank), I end up filing as if I own a business and am forced to so my state taxes as a business owner, which i am not. How do I handle this?

1 reply

July 13, 2020

It depends.

 

Please see the link below for more information as your reporting will depend upon your activity.

 

Tax treatment of cryptocurrency transactions

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