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June 5, 2019
Question

I got a 1099-misc for a spiff at my job paid by the product supplier now it is having me file as a business?

  • June 5, 2019
  • 3 replies
  • 0 views

i don't have a business name or address or code I don't have a business

    3 replies

    Hal_Al
    Employee
    June 5, 2019

    SPIFF (Special Performance Incentives for Field Force)  payments reported on Form 1099MISC; (1) are not treated as wages, (2) are not subject to federal income tax withholding, social security, Medicare, or federal unemployment tax, and (3) are not considered to be self employment income and, therefore, are not subject to self employment tax. http://www.irs.gov/pub/irs-pdf/p3204.pdf

     In TurboTax, Enter at:

    - Federal Taxes tab

     - Wages & Income

      - Explore on My Own

    Scroll down to

      -1099-Misc and Other common Income

          - Income From 1099-Misc

     On the  follow up screen,  enter SPIFF in the blank box, then on the next screen,  on the drop down list, check “This was  a Manufacturer's incentive payment”

    This will put it on line 21 of form 1040

    February 14, 2020

    Hi there, I have a few 1099-MISC to enter for SPIFFs, and I'm following your instructions up until " On the follow up screen, enter SPIFF in the blank box..." I don't see that part as an option. Can you please help? Thank you!

    ColeenD3
    February 15, 2020

    To enter a SPIFF with a 1099-MISC:

    While in your return, type “1099-misc” in the Search box and then select the “Jump to” link. This will take you directly to the section where you can enter your 1099-MISC.

    On the  follow-up screen,  enter SPIFF in the blank box, then on the next screen,  on the drop down list, check “This was a Manufacturer's incentive payment”

    This will put it on line 21 of form 1040

     

    Please see the screenshot below.

     

    February 25, 2020

    The federal return is corrected with these steps, but my Pa return is asking me to complete a gross compensation worksheet like I am self employed.  How do I complete this form?

    February 25, 2020

    You may need to start the state return over, as it appears it did not updated properly when you changed the form 1099 entry in the federal return.

     

     

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