If you received a 1099-MISC for interest income, it should be in Box 8, Substitute Payments. How you "phrase" your description won't determine how it's reported. How you enter it will. To report in TurboTax Online, make sure you are logged in and working in your return: Click on "Federal" on the left of your screen Select Wages & income Scroll down to "Other Common Income" Select "Form 1099-MISC" and click on Start/Revisit Answer "Yes" to "Did you get a 1099-MISC?" Enter the information on your 1099-MISC, and check the box for "My form has other info in boxes 1-18"The amount will be reported as Other Income on Schedule 1 (1040) line z.

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mesport

Question

I have an entry for 1099-Misc which is for interest earned on securities. How do I phrase that so it doesn't think it is work related?

Forum|Forum|1 year ago
February 18, 2025
1 reply
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DavidD66

If you received a 1099-MISC for interest income, it should be in Box 8, Substitute Payments. How you "phrase" your description won't determine how it's reported. How you enter it will. To report in TurboTax Online, make sure you are logged in and working in your return:

Click on "Federal" on the left of your screen
Select Wages & income
Scroll down to "Other Common Income"
Select "Form 1099-MISC" and click on Start/Revisit
Answer "Yes" to "Did you get a 1099-MISC?"
Enter the information on your 1099-MISC, and check the box for "My form has other info in boxes 1-18"

The amount will be reported as Other Income on Schedule 1 (1040) line z.

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mesportAuthor

Thanks David. Once I put the item into other income, it then asks me for a reason for the entry. If I put in anything, it then assumes it is for "self employment" and wants to move it there. If I leave it blank, it then asks me again in the final review. Is it ok to leave it blank?