You'll need to sign in or create an account to connect with an expert.
Are you filing as a self employed/independent contractor? If you are filling out Schedule C for self employment income you can write off your expenses.
You can enter 1099NEC or cash Self Employment Income into Online Deluxe but if you have any expenses you will have to upgrade to the Premium version. Or use any of the Desktop programs.
Where to enter expenses in the Online Premium version
Here is some IRS reading material……
IRS information on Self Employment
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employed-Individuals-Tax-Center
Pulication 334, Tax Guide for Small Business
http://www.irs.gov/pub/irs-pdf/p334.pdf
Publication 535 Business Expenses
http://www.irs.gov/pub/irs-pdf/p535.pdf
Oh, just reread your post. Sorry No you can not write off income you never received. Not unless you already included it as income first. You can't deduct income you never received. You will just have less income to be taxed on. You take the loss by still deducting all your actual expenses.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
wrg1962
New Member
kevinalqui9
New Member
crgcmembership
New Member
SoDoneWithTurboCrap
New Member
glassblaster2too
Returning Member