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April 16, 2022
Question

I input two 1099-MISC of sold some stocks. Turbotax treated them as income from business or rental property and asks for Schedule C or E. Why? But it was only sold stock!

  • April 16, 2022
  • 1 reply
  • 0 views
One 1099-MISC has only field 3: $97.74
and another 1099-MISC has only field 2: $0.56
Nothing else except stocks names all other random fields has zeros.

1 reply

ColeenD3
April 16, 2022

You can enter it as other income and reference sale of stock.

 

To enter a 1099-MISC for miscellaneous income in TurboTax:

  1. Open or continue your return
  2. Search for 1099-misc and select the Jump-to link

 

  1. Answer Yes to Did you get a 1099-MISC?
    • If you already entered a 1099-MISC, you'll be on the 1099-MISC Summary screen, in which case you'll select Add Another 1099-MISC
    • If you need to edit or delete a previously entered 1099-MISC, select the appropriate button

To exclude it as business income, say NO to the questions regarding the intent to earn money and that it involved work like your main job.