I’m working on a project that will most likely end up in some destroyed cameras and I’m considering buying a handful of the super cheap (sub $100) Amazon 4k video cameras. Has anyone actually tried any of them out? Are there any that are actually worth anything? There are so many and I have to imagine that most are garbage, but maybe there’s a few gems in there.
I am filing with Taxact and it keeps giving me an error that I don't understand.
Basically, I received a 1099 MISC form when I rented some musical equipment to a TV show. On the form it is labeled as "Box 1. Rents" and I have to choose between one of the following:
"Business rental income (Schedule C)
For income from renting personal property or equipment that's part of your business or self-employment activity.
Nonbusiness rental income (Form 1040)
For income from casual or occasional rentals of personal property that aren't part of a business."
I chose "Nonbusiness rental income" because I just rented out equipment once and it is not part of a business. When reviewing my return I get an alert of "inconsistent information" and this is what it says:
"On the Form 1099-MISC from [COMPANY I RENTED EQUIPMENT TO] you entered income in Box 1, 2, 5, 6, or 10. You indicated that income from [COMPANY I RENTED EQUIPMENT TO] is other income to be reported on Schedule 1 (Form 1040), Line 8. Only the income from Box 3 and 8 is transferred to Schedule 1 (Form 1040), Line 8 as other income. Remove any invalid entries."
What does this mean? I can't find anything about it. Is this something I actually need to worry about?