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I have a home based jewelry business. I did most of my business through cash or Paypal. So do not have a 1099. But I kept good record of all my income and expenses.

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1 Best answer

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IreneS
Intuit Alumni

I have a home based jewelry business. I did most of my business through cash or Paypal. So do not have a 1099. But I kept good record of all my income and expenses.

 

 

No problem.  You can report this income as general income rather than 1099-MISC income.

Please follow these steps:

Go back into your business return

  1. Click on the Business tab > Continue > I'll choose what to work on
  2. On the Let’s gather your business info screen, in the Business Income and Expenses section, click the Start/Update button.  
  3. If you have already started adding information about your business, you will see the Here's the business info we have so far screen.  Click on the Edit box next to the business. 
  4. If you haven't already started adding business information, continue through the screens to enter the needed information.

Enter Income

  1. You will now be on the Your [XX] Business screen.  In the Business Income section, click on the Start/Update box.  
  2. On the next screen, Business Income, click on the Start/Update box next to General Income Click Continue when finished with income.
  3. On the next screen, enter the income that was not included on a 1099 form.  You can group the income into categories if you wish. 
  4. When you are finished entering income, you will be brought back to the Your [XX] Business screen.   From here you can enter other business items (expenses, assets, inventory, etc.).

 

[Edited | 3/31/2020 |  8:40am PDT]

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3 Replies
IreneS
Intuit Alumni

I have a home based jewelry business. I did most of my business through cash or Paypal. So do not have a 1099. But I kept good record of all my income and expenses.

 

 

No problem.  You can report this income as general income rather than 1099-MISC income.

Please follow these steps:

Go back into your business return

  1. Click on the Business tab > Continue > I'll choose what to work on
  2. On the Let’s gather your business info screen, in the Business Income and Expenses section, click the Start/Update button.  
  3. If you have already started adding information about your business, you will see the Here's the business info we have so far screen.  Click on the Edit box next to the business. 
  4. If you haven't already started adding business information, continue through the screens to enter the needed information.

Enter Income

  1. You will now be on the Your [XX] Business screen.  In the Business Income section, click on the Start/Update box.  
  2. On the next screen, Business Income, click on the Start/Update box next to General Income Click Continue when finished with income.
  3. On the next screen, enter the income that was not included on a 1099 form.  You can group the income into categories if you wish. 
  4. When you are finished entering income, you will be brought back to the Your [XX] Business screen.   From here you can enter other business items (expenses, assets, inventory, etc.).

 

[Edited | 3/31/2020 |  8:40am PDT]

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Anonymous
Not applicable

I have a home based jewelry business. I did most of my business through cash or Paypal. So do not have a 1099. But I kept good record of all my income and expenses.

Does it matter how PayPal income is described?  Should I call it "cash" or "PayPal"?
IreneS
Intuit Alumni

I have a home based jewelry business. I did most of my business through cash or Paypal. So do not have a 1099. But I kept good record of all my income and expenses.

It doesn't matter how you describe the income, just so you recognized the entry.

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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