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jonleemccall
New Member

I'm a consultant for Pure Romance. I started last August and didn't make enough to receive a form so I'm not sure how to enter what I earned and my expenses.

 
1 Reply
KarenL2
Level 5

I'm a consultant for Pure Romance. I started last August and didn't make enough to receive a form so I'm not sure how to enter what I earned and my expenses.

For self-employment, if you didn't receive a 1099-MISC for that income, it will be entered into the General Income are of the business section (skip past the 1099-MISC area). 

You will file a Schedule C as a self-employed person.  The Schedule C will flow onto your individual income tax return (Form 1040) and be netted with other personal income and expenses.

How to get to that area  While inside the software and working on your return, type Schedule C in the Search at the top of the screen (you may see a magnifying glass there).  There will be a popup that says Jump to Schedule C.  Select that to get to the general area. 

When you set up your business, you can use your own name, address, and social security number (if you don't have a business name or EIN). Then, when done with the Business Profile:

  • go to Business Income and Expenses
  • select Edit next to your business (if it is there)
  • scroll to Business Income 
  • on the next screen, you will see a place to enter a Form 1099-MISC (if you didn’t receive one, you can Skip past that)
  • then, on the next screen, you will see General Income (for income received that is not on a 1099-MISC form)
  • enter a description for the income (ex. Services, or Consulting, Customer Sales) and the amount

Follow the same steps to get to the area to enter your Business Expenses.

Follow through all the areas in the Business section of the TurboTax software and it will provide you with a lot of assistance. You'll notice blue links that have more information and details about the particular sections that will be extremely helpful. 

Also, this link may be helpful to you IRS Small Business Help Center .


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