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Schedule C question

Hello,

I purchased a business in 2018 and have filled out a schedule C 1040. The business is a sole proprietorship LLC.

I'm unsure how to enter this into turbotax as under self employed income my choices are 1099-Misc, Other self employed income or Uncommon Income. None of these seem correct.

Any help would be appreciated.
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1 Reply
Coleen3
Intuit Alumni

Schedule C question

If you have a 1099-Misc to report your income:

You can enter a 1099-MISC on the 1099-MISC Summary screen.

  1. Sign in to TurboTax and select Take me to my return.
  2. Click "search" and search for 1099-misc.
  3. Select the Jump to 1099-misc link in the search results.
  4. Select Yes to Did you get a 1099-MISC?
  • If you need to enter another 1099-MISC, select Add Another 1099-MISC to enter a new one.
  • Enter the information from your 1099-MISC.
    • If your form has an amount in more than one box, you’ll need to enter them as separate 1099-MISC forms. We’ll help you with that.

    If you don't have a 1099-MIsc:

     HOW TO ENTER without a 1099-Misc

     First, sign in to My TurboTax

    Next, click the orange Take me to my return button

    On the white bar at the top, click Federal Taxes

    Then, Wages & Income

    In the Self-Employment section (you may need to click Show more), next to Income and Expenses, click Start (or Revisit)

    When asked "Did you have any self-employment income or expenses?" select Yes

    You'll see the screen titled "Tell us the type of self-employment work you do." Enter your description, then Continue

    On the next screen "Let's get income for [description]" select the button Additional income. Includes 1099-K, check/cash payments and Continue 

    The next screen will say "Tell us about additional income for your [description] work." List descriptions and amounts on this screen



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