To avoid all the necessary verbage, delete your 1099 MISC entry you have made. Now report it in the following manner so that TurboTax does not think this is Schedule C income. Log into your accountSelect Wages and incomeLess Common incomeMiscellaneous Income, 1099-A, 1099>startScroll to the bottom of the page to Other Reportable IncomeOther taxable income, answer yesThen give a brief description of the income and the amount listed. Here Describe this as "1099 MISC income received and the amount.

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Question

My broker recorded as Misc income on 1099 a repayment for a credit card annual fee. TurboTax keeps asking is this a Sced C transaction. what do I do?

Forum|Forum|1 year ago
April 15, 2025
1 reply
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DaveF1006

To avoid all the necessary verbage, delete your 1099 MISC entry you have made. Now report it in the following manner so that TurboTax does not think this is Schedule C income.

Log into your account
Select Wages and income
Less Common income
Miscellaneous Income, 1099-A, 1099>start
Scroll to the bottom of the page to Other Reportable Income
Other taxable income, answer yes
Then give a brief description of the income and the amount listed. Here Describe this as "1099 MISC income received and the amount.

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