david3
Level 7

1120-S client received a 1099-MISC reporting box 3 Other Income. Where is this entered on the 1120-S? 

The client is a single shareholder doctor. His practice is included in a group that sold to another entity. My client has not sold his business. So, the S Corp is receiving sales proceeds, goodwill, 1099-DIV, K-1s and other investment related documents related to this partnership group. The S Corp has never received K-1s or other documents from this group in the past.

I'm guessing the 1099-DIV is entered on Sch K line 5. Also, the sales proceeds, goodwill, etc. would be entered on Sch K lines 7 and 8.

I've never had an S Corp that has received these type of documents, so I want to make sure I enter them correctly. 

There aren't instructions for entering the 1099-MISC. I can't click on the "Where Do I Enter" box. For some years now, whenever I click on that box, PS freezes up. Any idea how to fix that?

Thanks for your help.

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