Form 1099-MISC
This page includes the following information:
- How to add Form 1099-MISC
- Entering a Form 1099-MISC.
- How to include this income to appropriate Schedule or Form 1040, Line 21 as Other Income.
- Troubleshooting Common Errors.
- System Limitations.
Add Form 1099-MISC
Step 1. Once you have entered your Tax Return, look for Forms In Return on the left and scroll down.
Step 2. Click the "Federal" drop-down selection.
Step 3. Click the "Income" drop-down selection.
Step 4. Within the listed "Income" Forms, scroll down and select "Form 1099-MISC".
IMPORTANT: Foreign Payer Address
If Payer has a Foreign Address, you can not use Form 1099-MISC, the income from Form 1099-MISC will go directly into the applicable Schedule, or Additional Income Including Social Security Benefit Page for Form 1040, line 21 "Other Income".
Form 1099-MISC Page:
Step 5. Select "Add New"
Form 1099-MISC Income will go into the following:
- Schedule C: Non-employee Compensation, Fishing Boat Proceeds, Direct Sales.
- Schedule E: Rents, Royalties.
- Schedule F: Farming Income, Crop Insurance Proceeds.
- Form 1040, Line 21: Other Income
After entering Form 1099-MISC, you must add the Schedule C, Schedule E, or Schedule F to your return.
Form 1040, Line 21 Other Income is selected within the Form 1099-MISC input page.
Select how the system should treat this income:
Do not select any of the options on this page when this Form 1099-MISC income belongs in either Schedule C, E , or F. This income will not be available within these Schedules if any of these have been selected.
IMPORTANT:
After you have finished entering the Form 1099-MISC(s), you must add the applicable Schedule to the return.
Check the box when Real Estate Income belongs in the Schedule C as self-employment income.
Form 1040 Other Income must be selected for the system to not calculate self employment tax on the income.
Caution: Form 1099-Misc’s that are entered and are not assigned will be considered as Other Income (Form 1040, line 21) and Subject to Self-Employment Tax