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I'm trying to set up my account. Not sure what to even choose. I have a form5498, 1099-MISC, 2 1095-A and my W-2

Forum|Forum|7 years ago
June 4, 2019
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TurboTax Deluxe Online

Best answer by JaimeG

If you are looking to file a Schedule C to report Income and Expenses related to form 1099-MISC you must use the TurboTax Self-Employed. You can report the income from 1099-MISC on TurboTax Deluxe but it does not have the capability to enter Business Expenses.

On TurboTax Self-Employed you may also enter the other forms that you mentioned above. Usually form 5498 is not entered into your Tax Return. There are other forms that are sent that contain the reportable information from this form. For more information please view the FAQ below:

https://ttlc.intuit.com/replies/3301419

J

JaimeGAnswer

Employee

If you are looking to file a Schedule C to report Income and Expenses related to form 1099-MISC you must use the TurboTax Self-Employed. You can report the income from 1099-MISC on TurboTax Deluxe but it does not have the capability to enter Business Expenses.

On TurboTax Self-Employed you may also enter the other forms that you mentioned above. Usually form 5498 is not entered into your Tax Return. There are other forms that are sent that contain the reportable information from this form. For more information please view the FAQ below:

https://ttlc.intuit.com/replies/3301419

C

captcheri8255

This has nothing to do with a business. This is a savings amount that I had to take an RMD out. I have to report the money as income and the taxes paid on it. I just don't know if it qualifies as a 1099R

KrisD15

Required Minimum Distributions (RMD) are for retirement accounts and reported on 1099-R.

If this is an IRA that holds rental property, the 1099-MISC may be reporting the rental income earned by the account. If this is the case, it is not reported on your tax return.

You should not have been distributed that amount, It should have stayed in the IRA.

If you did have funds distributed, they need to be reported on 1099-R.

If you need to take a RMD for 2019, be sure you've done that or do it before April 15th.

@captcheri8255

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