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If you have a small business, you are self-employed. All compensation that is not from a W-2 as an employee is entered on Schedule C Profit or Loss from Business. There are different ways to receive this income. If you made more than $600, you would get a 1099-Misc. Companies that receive payments by credit card, issue a 1099-K. You may not even receive a reporting form, but the income still has to be reported.
TurboTax will help you report it as Business Income on a Schedule C or C-EZ.
If you have only income from self-employment and no expenses, there is no need to upgrade from Deluxe. If you do have expenses, however, that will trigger an upgrade to the TurboTax Self-Employed edition.
You may be able to deduct business expenses directly from that income.
If you have a small business, you are self-employed. All compensation that is not from a W-2 as an employee is entered on Schedule C Profit or Loss from Business. There are different ways to receive this income. If you made more than $600, you would get a 1099-Misc. Companies that receive payments by credit card, issue a 1099-K. You may not even receive a reporting form, but the income still has to be reported.
TurboTax will help you report it as Business Income on a Schedule C or C-EZ.
If you have only income from self-employment and no expenses, there is no need to upgrade from Deluxe. If you do have expenses, however, that will trigger an upgrade to the TurboTax Self-Employed edition.
You may be able to deduct business expenses directly from that income.
im not self employed but was redirected to self employed version?
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