Follow these steps
to enter Business Income and Expenses in TurboTax Online Self-Employed.
While signed into
your TurboTax account:
- Go to Search (upper right of program) and
use keywords “business expenses”
- Select the “Jump to” link to be taken to
business income and expenses
The TurboTax
interview will guide you through questions to enter your business income and expenses. (click on screenshot below for more detail)
If your self-employment income was from cash or
personal checks or credit card payments:
Type “Schedule C” in
the Search box and then select the “Jump to” link. This will take you to where you
can enter any cash, personal checks or credit card payments (Form 1099-K)
related to your self-employment. You may be asked some general questions about
your business. After you answer them, you’ll be taken to the Your Business screen where you can enter this
income as Additional Income under Business Income.
When you get to Expenses, TurboTax will list
common business expenses and you can place a checkmark next to all the expenses
that apply to your situation. Use the “Learn
more” blue link next to each item to obtain more information on the
types of business expenses for that section.
If you do not find a
specific expense in that list, expand the list by clicking “Less common expenses” and scroll down to “Other miscellaneous expenses”. Use the “Learn more” link to determine if your
specific expense would be entered there.
