How to report 1099-MISC income to Schedule C

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How to report 1099-MISC income to Schedule C
Article ID: 68349

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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Article Details

Views: 2986	Created on: Aug 06, 2015 Date updated: Aug 06, 2015
Posted in: GENERAL QUESTIONS, Schedule C - Profit or Loss from Business

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