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WHERE DOES OTHER INCOME NOT SUBJECT TO SELF EMPLOYMENT INCOME GO ON turbotax 1040?

Forum|Forum|7 years ago
June 4, 2019
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TurboTax Self Employed Online

Best answer by SweetieJean

https://ttlc.intuit.com/questions/3976670-where-do-i-enter-a-k-1

Carl11_2

Employee

It depends on what that other income is, who or what entity paid it to you, and why it's not subject to SE tax, as well as on what document if any, that other income was reported to you on.

VolvoGirl

Employee

Did you get it on a 1099Misc? What for?

Try Personal
Personal Income
Scroll down to Other Common Income
Or Less Common Income

N

nat4321Author

The other income is shareholder health insurance (report as other income not subject to self-employment tax and as self-employed health insurance deduction)

S

SweetieJean

Employee

Is it listed on a K-1?

Carl11_2

Employee

I'm not privy to all the fields on all the different types of K-1s that one can receive. But if property reported on the K-1, then if property entered into the TTX program, the program will know it's not subject to the SE tax. I based this comment on some of the other posts I've read in this forum concerning K-1s and income not subject to the SE tax.

S

SweetieJean

Employee

Right. I'm asking OP if he/she received a K-1.

N

nat4321Author

It came on K-1 but I don't know where I should enter it

S

SweetieJean

Employee

See answer below.

T

TaxGuyBill

Employee

So the health insurance has already been added to Box 1 of your W-2, which initially makes it taxable.

As SweetieJean's link shows, when you are entering your K-1, it will have a check-box asking if you paid for health insurance. Check that box and answer the followup questions. If you qualify for the deduction, it will then subtract that cost back out (it will show up on Line 29 of your Form 1040).

S

SweetieJeanAnswer

Employee

https://ttlc.intuit.com/questions/3976670-where-do-i-enter-a-k-1