TurboTax Self-Employed is designed to report this type of business income
and capture any expenses or deductions related to your business or line of work.
In TurboTax Deluxe, you can only report income and not expenses. Please do the following:
- Federal Taxes
- Wages & Income
- Self-Employment
-
Income and Expenses, then
Click Start.
-
Did you have any
self-employment income or expenses?, click Yes
-
Tell us the type of
self-employment work you do, type in your description, click Continue
- Let's get income, you can
make your selection
-
If you do not have your Form
1099 Misc and wish to report, select Additional Income (Includes 1099-K,
check/cash payments), click Continue
- Did you have any more income
for sales? No, if that is the only one
- Did you have expenses?, if
you want to report any expenses related to this income, then you will need
to upgrade to TurboTax Self-Employed. If not, then you can continue using
your current TurboTax version.
In TurboTax Self-Employed, you are able to report both income and expenses, please do the following:
- Click Business, then Continue
-
How do you
want to enter your business income?, then I'll choose what I work on
- Business
Income and Expenses,
click Start/Update
-
Did you have
any income and expenses for a business in 2016?, click Yes
-
First, let's
confirm your business name and address, click Continue
-
Enter
Business Information, click Continue
-
Tell us
about your business, click Continue
-
Enter
Employer ID Number, If Any, click Continue
-
Do you use
the cash method of accounting to run your business?, click Continue
-
Did you make
any payments that required you to issue a form 1099?, click Continue
-
Do any of
these uncommon situations apply to your business?, click Continue
-
Let's
confirm your business info, click Continue
-
Your
Business page
- Go to Business
Income
-
Business
Income, then
Click Start.
-
General
Income, click Start
- Tell us
about additional income (Please note: it states Make sure to include any
income reported on Form 1099-K and income from a barter or exchange)
-
Type in your
description, click Continue
