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D
dmkn566
Employee
March 5, 2020
Question

Investment Earnings reported on 1099-Misc.

  • March 5, 2020
  • 2 replies
  • 0 views

I received a 1099-Misc. How can I avoid filing out a ScheduleC, since I am not in business and this income was from a security investment?

    2 replies

    M
    mglauner
    March 5, 2020

    When entering your 1099-Misc, choose 'No, it didn't involve work like my main job' and

    Continue.

     

    Then choose 'No, it didn't involve an intent to earn money' and Continue. 

     

    This puts the income on the Miscellaneous Income Worksheet, to be reported as 'Other Income'. 

     

     

    Hal_Al
    Hal_Al
    Employee
    March 5, 2020

    Why did you get this money?  Dividends and interest and return of capital are reported on 1099-INT or 1099-DIV.  What was your involvement in the investment.  What box # on the 1099-Misc was the dollar amount in?

     

    How you report it, depends on why you got it. 

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