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How to report 1099-MISC income to Schedule C

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Question
How do I report the 1099-MISC income to Schedule C?

Answer

Instructions for Direct Input Software:

When a reporting form is calculated to a Schedule, always begin with the Schedule and link to the reporting form.

  • Navigate to the Schedule C summary and either "EDIT" the already created Schedule C or choose to "ADD" a Schedule C.
  • Once you have completed the general business information, click the link for Form 1099-MISC on Line 1.
  • The software will bring you to the 1099-MISC Summary. Click to "ADD" a Form 1099-MISC.
  • After completing the needed lines with the form, navigate to the "Reporting Section" at the bottom of the page.
  • Click "Pick from List" next to the highlighted line number.
  • Select the appropriate Schedule and choose "Use" at the bottom of the pop up window.
  • Save the 1099-MISC Screen. The amount will now show as calculated for Schedule C, Line 1 income.

Instructions for Interview Input Software:

  • From the Income Tab, navigate to Miscellaneous Income - 1099-MISC.
  • Choose to "Add" 1099-MISC Income
  • Enter all needed line information within the 1099-MISC form and click "Save & Continue Return" on the bottom right of the page.
  • The software will prompt you to indicate which reporting Schedule/Form this income will report to. Choose the form and click "Save & Continue Return" at the bottom right of the page.
  • Verify the business name of the reporting schedule or to "ADD" a new schedule if one has not yet been created. Make the indication and click "Save & Continue Return" at the bottom right of the page.
  • The software will pull the calculation to your reporting schedule.

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Views: 2222 Created on: Aug 06, 2015
Date updated: Aug 06, 2015

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