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February 26, 2024
Question

Where do I enter miscellaneous income which is not from self-employment but is contained as a line item in a summary from my financial institution?

  • February 26, 2024
  • 1 reply
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1 reply

February 26, 2024

Miscellaneous income may be entered as follows:

 

  • Down the left side of the screen, click Federal.
  • Down the left side of the screen, click Wages & Income.
  • Scroll down to Less Common Income and click on the dropdown menu.
  • To the right of Miscellaneous Income, 1099-A, 1099-C, click the Start / Revisit button.
  • To the right of Other reportable income, click the Start / Revisit button.
  • At the screen Any Other Taxable Income, click Yes.
  • At the screen Other Taxable Income, enter a description and the amount.
  • Click Continue

The entry will be reported:

 

  • on line 8z of Schedule 1 of the Federal 1040 tax return, and 
  • on line 8 of the Federal 1040 tax return.
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