How do I report 1099-misc income on TurboTaX?
My employer (who also gave me a w2) reported a one time bonus on a 1099 as non employee compensation. When I try to put this in TurboTax, it keeps telling me to report the employer to the IRS on an SS-8 form. How am I supposed to handle this?
- Willie JLv 49 years agoFavorite Answer
Rents (box 1) See the Instructions for Schedule E*
Royalties (box 2) Schedule E, line 4 (for timber, coal, and iron ore royalties, see
Other income (box 3) Form 1040, line 21*
Nonemployee compensation (box 7) Schedule C, C-EZ, or F. But if you were not self-employed, see the instructions on Form 1099-MISC.
Excess golden parachute payments (box 13) See the instructions for Form 1040, line 60,Source(s): IRS instructions
- Cathi KLv 79 years ago
Bonuses should have been reported on your W2 not 1099-misc. The SS8 is a form you submit to the IRS to rule as to whether you are an employee or independent contractor.
- RUSeriousLv 79 years ago
A 1099-Misc implies that you are self employed. I feel quite certain that there is a section in the income section devoted to self employment income. Also, look to see if there is a section devoted to other income (Miscellaneous Income). You will need to look again. Wish that I could be of more help.
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- AudreyLv 44 years ago
Yes, se tax is correct. Social security and medicare haven't been paid yet, so he has to pay them now - that's what se tax is for. Actually, the amounts most likely should have been on his W-2 rather than on a 1099. He could deduct the mileage difference for BUSINESS, not COMMUTING, miles, but that's not likely to make much difference.