Does my wifes Younique makeup business have tax deduction?

[rsilvas]

Hi my wife is a stay at home mom and in the year 2016 she started up with Younique makeup business to work from home. She bought makeup for people to tryout (testers) and business cards and other stuff. Is any of this tax deductible and if so where in turbo tax do I put the money she made/loss and enter the tax deductions if any. I file using turbo tax premier because of my rental property.

[TomD8 · Accepted solution]

She has a self-employed business.  You enter her income from the business as Business Income, from which she may deduct her business-related expenses.  You may need to upgrade to the Self-Employed version of TurboTax.

[rsilvas]

Ok i'll do the upgrade thanks!

[skm17]

What do u out in for ein and the other info?

[TreyL]

SKM17, Younique's EIN is 37-1696364 (which is the "PAYER'S federal identification number" under their address).

[TomD8]

@TreyL The EIN entered on Line D of a Schedule C is the independent contractor's EIN, if they have one.  A self-employed individual is not required to have an EIN unless they themselves have employees or have a self-employed retirement plan.   Younique's EIN would not be entered on the independent contractor's Schedule C.