1099-Misc for MN one-time tax rebate

Forum|Forum|2 years ago
March 2, 2024
1 reply
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Entered the 1099-Misc Minnesota one-time tax rebate into our Federal and when get through entering it wants a principle business code for payer, the state of MN has a 7digit state payer's number in box 17 of the 1099-Misc form but the Federal form only wants a 6-digit number. Any help appreciated.

mglauner

TurboTax is treating your 1099-MISC as self-employment income, and is asking for your Business Code to report the income on Schedule C.

To report this is a one-time payment, go back to your 1099-MISC entry and Edit it. You can type '1099-MISC' in the Search area, then 'Jump to 1099-misc' to get to the 1099-Misc Summary page to do this.

On the page 'Do any of these uncommon situations apply?' choose None.

Then choose, 'No, it didn't involve work like main job', received it in 2023, and 'No, didn't involve intent to earn money'.

This will report the income under Miscellaneous Income.

@Sadie1516

Sadie1516Author

Thanks for the info but this did not solve the issue, it still wants a 6-digit number for payer.

Sadie1516Author

What we aren't able to do is move forward after entering the 1099-misc (one time MN tax rebate) as TurboTax gives us a message stating that we have 3 errors the first being that it wants a 6-digit Principle Business code between [phone number removed]00. Our 1099-misc has a 7-digit code under box 17-State/Payer's state no. which is 9000001. Wondering if we should just leave off the "9" as the other 6 numbers seem to correlate. Thanks!