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Yes, Independent Contractors and Self-Employed individuals claim income and expenses on Schedule C Profit or Loss from Business. there are two ways to enter income depending on whether or not you received a 1099 or not.
Report income with a 1099-Misc
While in your return, type “1099-misc” in the Search box and then select the “Jump to” link. This will take you directly to the section where you can enter your 1099-MISC.
After you’ve entered the information from your 1099-MISC, TurboTax will ask a series of questions to determine if your 1099-MISC income is from self-employment or is ordinary income.
Report income without a 1099.
Hi, for direct sales "consultants" like Pampered Chef, Avon, etc., with very sparse, borderline non-existent, sales, which level of TurboTax would be required to be able to report ? I'm looking at not even enough in sales or expenses to make up for the cost increase between Premier and Small Business. We don't seem to get a 1099-MISC to report and we don't have a need to generate any W-2s or 1099s for employees/ or subcontractors, but we do have some income to report and a handful of receipts here and there to put down.
Should Premier do everything I need?
If you buy the Desktop CD/Download program you can use any version, even Deluxe. All the Desktop programs have the same forms. You just get more help and guidance in the higher versions.
But for Online web versions you do need the Self Employed version to enter any expenses. If you only have income you can use Online Deluxe or Premier.
Or for Online.......
There is also The Turbo Tax Free File program which is free for federal and state. And has more forms than the Federal Free Edition, like Schedules A, B, C , D, E, F, EIC, H, K-1, SE, etc.
NOTE: You will have to setup a new account with a new username and new password or it will take you back to regular Turbo Tax.
To qualify for the Free File website you just need to meet one of these 3 things
AGI $34,000 or less
Active duty military with AGI of $66,000 or less
OR qualify for EIC (earned income credit.)
In order to use the Free File program, you have to start it at a special website. Click on the bottom Orange button I Qualify Start Now and set up a NEW account
http://turbotax.intuit.com/taxfreedom/
Do not sign in at the top. Use the bottom I QUALIFY START NOW
and set up a new account or it will take you back to regular Turbo Tax.
How to switch to Tax Freedom
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