TD Ameritrade 1099-MISC income

Forum|Forum|2 years ago
February 17, 2024
2 replies
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I had TD Ameritrade up until September 2023, whereupon I got migrated to Schwab. I own an ETN that pays a monthly "coupon amount". On my 2023 TD Ameritrade statement, it shows up on the 1099-MISC section as "Other Income". On my 2023 Schwab statement, it shows up on the 1099-DIV section as an "Ordinary Non-Qualified Dividend".

When I put in the 1099-MISC, Turbo Tax asks questions about Business Income and Expenses like address locations, but this wasn't a business. Should I check the box that says "no" to the "Did this involve an intent to earn money?" question?

Best answer by AmyC

Correct, mark no for intent to earn money and mark that this was only for 2023. Otherwise, the program thinks you are running a business and don't know it.

AmyCAnswer

Employee

Correct, mark no for intent to earn money and mark that this was only for 2023. Otherwise, the program thinks you are running a business and don't know it.

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