Question

Is it normal to not have income listed with the following situation? I have a 1099 with information in box 7 but when I look at the overview there is no income listed.

Forum|Forum|4 years ago
April 12, 2022
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TurboTax Self Employed Online

To clarify, what code is listed in box 7 of your form 1099-R?

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K

kuharAuthor

It is just a check box that states I sold $5000 or more.

M

mglauner

Form 1099-MISC Box 9 reports information rather than income. Basically, the company reported to the IRS that you made direct sales of product for resale.

This implies that you will report this activity on Schedule C as income/expenses from self-employment. When you enter Form 1099-MISC, leave Box 9 blank.

Type 'Schedule C' in the Search area, then click on 'Jump to Schedule C' to get to this section.

Here's How to enter Income and Expenses for Self-Employment.

@kuhar