Stock Income 1099-MISC

Forum|Forum|2 years ago
February 14, 2024
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My wife had received stock from her company as part of a variable compensation plan. The value of the stock given was reported on a 1099-MISC. When I go to enter it, it keeps showing up as Self-Employed income, even thought its issued by her company. This doesn't seem right as she is not self-employed. Not sure how to properly file this.

DianeW777

It would seem this should have been included on the W-2 instead of a Form 1099-MISC, however if the amount is in Box 15, it is considered a nonqualified distribution because the company has not met the requirements under section 409A. You can enter it using the instructions below. Be sure to delete your 1099-MISC direct entry if you did enter that.

Keep in mind this becomes part of the cost basis for this stock when it is sold.

Other Miscellaneous Income:

Go to the Wages and Income section of TurboTax

Scroll to Less Common Income > Select Miscellaneous Income, 1099-A, 1099-C
Select Other reportable Income > Enter a description (NQDC) and the amount