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Entering Expenses and income

I have just begun to enter our business expenses for 2020.  The process seems to have changed.  There is no way to enter normal business expenses, nor it there a way to enter our income as stated on form 1099.  Please 

assist.  Ours is a very small business, earning under 5,000.00 before expenses.

 

Thanks, 

Sherryl Mettar

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3 Replies
RayW7
Expert Alumni

Entering Expenses and income

We'll automatically complete Schedule C when you set up your self-employment work in TurboTax or when you enter what the IRS considers self-employment income, which is usually reported on Form 1099-NEC or 1099-MISC.

Schedule C is supported in TurboTax Self-Employed (both online and in the mobile app) and in all personal 1040 versions of the TurboTax CD/Download software.

To set up your business:

  1. Open or continue your return.
  2. Search for schedule c and click 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 onscreen instructions.

If you need Schedule C to report a 1099-NEC or 1099-MISC, search for 1099-NEC or 1099-misc and select the Jump to link. Answer Yes to Did you get a 1099-NEC or 1099-MISC? We'll ask questions to find out if your 1099 income needs to go on Schedule C.

If your 2018 or earlier return requires Schedule C-EZ, we'll also generate a Schedule C for background calculation purposes only. It won't get filed with your return.

 

for more information on Schedule C follow this link-

Reporting Self-Employment Business Income and ... - TurboTax

Entering Expenses and income

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Entering Expenses and income

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