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Level 1
posted Mar 10, 2023 1:03:31 PM

Do I report my earning before or after my agency takes their cut

Hello,

 

I worked for part of the year as a freelance model. I am needing to report my earning. My agency provided me with a statement outlining my earnings as complete income and commission fees listed etc. Do I report my earnings before or after my agency takes its % cut?

 

Thank you

0 1 462
1 Best answer
Expert Alumni
Mar 10, 2023 1:28:34 PM

You report your total earnings before the agency takes out its fees.  You can then list agency fees, cost of head shots, beauty services for a gig, etc., as expenses against your income to arrive at your net income.  

 

The program automatically complete Schedule C for you when you add your self-employment income in TurboTax (usually from Form 1099-NEC or 1099-MISC). Here's how to add your self-employment income:

  1. Open or continue your return
  2. Search for schedule c and select the Jump to link in the search results
  3. Answer Yes to Did you have any self-employment income or expenses?
    • If you've already entered self-employment work and need to enter more, select Add another line of work
  4. Follow the on-screen instructions

 

1 Replies
Expert Alumni
Mar 10, 2023 1:28:34 PM

You report your total earnings before the agency takes out its fees.  You can then list agency fees, cost of head shots, beauty services for a gig, etc., as expenses against your income to arrive at your net income.  

 

The program automatically complete Schedule C for you when you add your self-employment income in TurboTax (usually from Form 1099-NEC or 1099-MISC). Here's how to add your self-employment income:

  1. Open or continue your return
  2. Search for schedule c and select the Jump to link in the search results
  3. Answer Yes to Did you have any self-employment income or expenses?
    • If you've already entered self-employment work and need to enter more, select Add another line of work
  4. Follow the on-screen instructions