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What is income on a 1099-MISC?

Forum|Forum|6 years ago
June 7, 2019
9 replies
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I can't get my 1099's to transfer from business to personal last year shows 80,000 and this year shows 0 even tho I have already put them in

TurboTax Self Employed Online

Best answer by Hal_Al

The IRS considers anything in box 7 of 1099-MISC to be self employment income. Enter the 1099-Misc income, at Other Common income / income from a 1099-MISC . TurboTax (TT) will complete Schedule C or C-EZ for you and allow you to deduct any expenses associated with this income.

The net business income "transfers (from schedule C) to your personal return" by being placed on line 12 of form 1040.

Critter

Employee

The 1099misc belong in the Business tab not in the Personal income tab so did you enter them incorrectly last year ? Did the $80K show up on line 21 of the form 1040 or on the Sch C ?

VolvoGirl

Employee

Don't worry about the Review or Summary screens.  Just make sure you have a schedule C and the Net Profit of loss goes to 1040 line 12.

You can (and should) preview your return.   To preview your Online return, go to My Account at the top.  Then Tools, then View Tax summary.  Then you can click on Preview My 1040 at the top.

OR click Review near the top of your screen, and then click Summary right below it.  Then Near the bottom of the We Guarantee Your Maximum Refund screen, click the Preview Return link.    <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/replies/3302322">https://ttlc.intuit.com/replies/3302322</a>

fatca

I have an error on 1099-misc asking for a schedule C but one does not come up and I don't know how to retrieve one. I have also asked for turbo help 3 times with no success

VolvoGirl

Employee

@golfin11 this is the only question you have posted under this user name. Please start your own question. And this thread is from 6 months ago.

S

smfw29a2

Employee

Fatca, I too had a problem where the tax review said I needed a schedule c. In my case when TT asked if I received a similar MISC amount in previous years or will receive it next year I blanked out all but the current year. That removed the schedule c requirement and the amount appeared on line 21 of my 1040. In my case the 1099-MISC Box 3 was a reimbursement of insurance so it was not employment related.

Hal_Al

Employee

Yes, that's how critter#2 described the work around (below) to avoid schedule C and self employment tax. But The IRS considers anything in box 7 of 1099-MISC to be self employment income. TurboTax (TT) aggressively steers you in that direction. If you try reporting box 7 income as anything else, you chances of hearing from the IRS are very high.

Hal_AlAnswer

Employee

The IRS considers anything in box 7 of 1099-MISC to be self employment income. Enter the 1099-Misc income, at Other Common income / income from a 1099-MISC . TurboTax (TT) will complete Schedule C or C-EZ for you and allow you to deduct any expenses associated with this income.

The net business income "transfers (from schedule C) to your personal return" by being placed on line 12 of form 1040.

S

SweetieJean

Employee

https://ttlc.intuit.com/questions/2893392-where-do-i-enter-a-1099-misc