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How do I file taxes when I drive for a local company and am an independent contractor

I'm an independent contractor for a local cab company plus I run my own business, how do I file my taxes? And when do I file?
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1 Reply
Carl
Level 15

How do I file taxes when I drive for a local company and am an independent contractor

As far as the IRS is concerned, money earned as an independent contractor is self-employment income. So all income earned and all expenses incurred as such will be reported on SCH C as a part of  your personal 1040 tax return.

If using the CD/Desktop version of TurboTax you will need at least the Premier version. If using the online version of TurboTax, you will have to use the Self-Employed version. (More costly)

 

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