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1099 MISC payment to me from business

A business paid me $1000 due to a misprint in their marketing and reported it on 1099 MISC box 14. When I enter this information into TurboTax, I'm treated like an independent contractor with a business, which I'm not. How can I accurately report this income?

1 Comment
TurboTax Specialist

1099 MISC payment to me from business

It's possible this is business income, if you are a lawyer.

 

Form 1099-MISC Box 14 reports gross payments to an attorney. If this doesn't describe you, then you should request a corrected 1099-MISC.

 

Most legal settlements are reported on Form 1099-MISC, but in Box 3 "Other Income." This allows you to report the income as not related to a business and avoid any self-employment taxes.