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constructionsuper1942

Question

In the Turbo Tax forms where i fill out the 1099 Misc. The income is from where i invested with LPL Financial. They invested my money and i made an income?

Forum|Forum|1 year ago
April 9, 2025
1 reply
0 views

There are no proper boxes to check for this type of income in the turbo tax 1099 Misc.

TurboTax Deluxe Online

In TurboTax Online, report the income from LPL Financial as follows:

Down the left side of the screen, click Federal.
Down the left side of the screen, click Wages & Income.
Click the down arrow to the right of Less Common Income.
Click to the right of Miscellaneous income….
Click to the right of Other reportable income.
At the screen Any Other Taxable Income enter Yes.
At the screen Other Taxable Income, enter description and dollar amount.

The income should be reported on line 8 of the IRS form 1040 and line 8z of the Schedule 1 Form 1040.

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