Schedule 1, Line 8 includes the following. Most prizes and awards. .Jury duty pay. Alaska Permanent Fund dividends. Reimbursements or other amounts received for items deducted in an earlier year Income from the rental of personal property if you engaged in the rental for profit but were not in the business of renting such property. Income from an activity not engaged in for profit. from a health savings account (HSA) because you didn't remain an eligible individual during the testing period. Gambling winnings, including lotteries, raffles, a lump-sum payment from the sale of a right to receive future lottery payments, etc. Reemployment trade adjustment assistance (RTAA) payments. Loss on certain corrective distributions of excess deferrals. Dividends on insurance policies if they exceed the total of all net premiums you paid for the contract. Recapture of a charitable contribution deduction relating to the contribution of a fractional interest in tangible personal property. Recapture of a charitable contribution deduction if the charitable organization disposes of the donated property within 3 years of the contribution. Canceled debts. These amounts may be shown in box 2 of Form 1099-C. Taxable part of disaster relief payments. Taxable distributions from a Coverdell education savings account (ESA) or a qualified tuition program (QTP). Distributions from these accounts may be taxable if (a) in the case of distributions from a QTP, they are more than the qualified higher education expensesSee IRS Instructions for 1040, page 23.

Question

What goes on the Other income statement, Schedule 1, line 8 Other taxable Income - TP? It came up under tax review

Forum|Forum|6 years ago
March 11, 2020
2 replies
0 views

No text available

TurboTax Premier Online

ReginaM

Schedule 1, Line 8 includes the following.

Most prizes and awards.
.Jury duty pay.
Alaska Permanent Fund dividends.
Reimbursements or other amounts received for items deducted in an earlier year
Income from the rental of personal property if you engaged in the rental for profit but were not in the business of renting such property.
Income from an activity not engaged in for profit.
from a health savings account (HSA) because you didn't remain an eligible individual during the testing period.
Gambling winnings, including lotteries, raffles, a lump-sum payment from the sale of a right to receive future lottery payments, etc.
Reemployment trade adjustment assistance (RTAA) payments.
Loss on certain corrective distributions of excess deferrals.
Dividends on insurance policies if they exceed the total of all net premiums you paid for the contract.
Recapture of a charitable contribution deduction relating to the contribution of a fractional interest in tangible personal property.
Recapture of a charitable contribution deduction if the charitable organization disposes of the donated property within 3 years of the contribution.
Canceled debts. These amounts may be shown in box 2 of Form 1099-C.
Taxable part of disaster relief payments.
Taxable distributions from a Coverdell education savings account (ESA) or a qualified tuition program (QTP). Distributions from these accounts may be taxable if (a) in the case of distributions from a QTP, they are more than the qualified higher education expenses

See IRS Instructions for 1040, page 23.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

T

TPO

My best guess as to why I'm seeing this is my Line 22b which was auto populated to report "Lawsuit settlement". This money was reported last year but I need to report it again this year perhaps? Full amount of the settlement?

D

DianeW777

Yes, if you received a law suit settlement again in 2021 you must report the income. This would not include any income from the law suite that was received and taxed in 2020.

Enter your legal settlement by following the steps in the article below.

Where do I enter the award for a taxable legal settlement?

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

cindy-A

If you scroll down on that Other Income Statement, you will see that TurboTax has included an entry from last year's taxes and it is wanting you to put in a dollar amount. You can just put in 0.00 at the box at the top, but I chose to delete the entire form, as long as you have nothing on it.

A TurboTax expert explains it here: https://ttlc.intuit.com/community/taxes/discussion/how-to-get-rid-of-other-taxable-income-entry-copied-forward-from-last-tax-year/01/2679416/highlight/false#M961968