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For 11 months I was an hourly employee. In December I became an owner operator for the same company. Do I need to report Decembers earnings also?

 
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Hal_Al
Level 15

For 11 months I was an hourly employee. In December I became an owner operator for the same company. Do I need to report Decembers earnings also?

Yes. All income is reportable. But, you do not report it at the W-2 screen. You have to report it as self employment income (you will probably get a form 1099-Misc in addition to your W-2).

You will also have to upgrade to TurboTax Self Employed

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4 Replies
Hal_Al
Level 15

For 11 months I was an hourly employee. In December I became an owner operator for the same company. Do I need to report Decembers earnings also?

Yes. All income is reportable. But, you do not report it at the W-2 screen. You have to report it as self employment income (you will probably get a form 1099-Misc in addition to your W-2).

You will also have to upgrade to TurboTax Self Employed

For 11 months I was an hourly employee. In December I became an owner operator for the same company. Do I need to report Decembers earnings also?

I did not receive a 1099 but I do get weekly print outs.
Hal_Al
Level 15

For 11 months I was an hourly employee. In December I became an owner operator for the same company. Do I need to report Decembers earnings also?

Then you enter your income based on your own recods.
BUT the company is required to provide you a 1099-Misc, if they paid you more than $600 for the year.  They have until early February to send them out.

For 11 months I was an hourly employee. In December I became an owner operator for the same company. Do I need to report Decembers earnings also?

Thanks
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