You are self-employed and will
report your business income and expenses on Schedule C. You will enter the
income and expenses related to your business, in the business section.
The following link contains
additional information on filing Schedule C:
Reporting Self-Employment Business
Income and Deductions
Whether you received
a 1099-MISC for self-employment, rent, royalties, fishing,
or another reason, you can enter the information by following these steps (or this link for our mobile app:(
- Sign in to your TurboTax
account.
- Select the orange
button Take me to my return.
- Type “1099-misc” in
the Search box.
- Select the “Jump to” link.
- This will take you to the
1099-MISC screen.
After you’ve entered the information from your 1099-MISC, we'll
ask a few questions to confirm the type of income you received and create the
necessary forms. If your 1099-MISC income is from self-employment, we’ll
help you enter expenses related to your income.
The related expenses are entered
in the 1099 MISC section:
- Log into your TurboTax
online account and click on the Business tab and select Continue
- Select “I’ll choose what I
work on” and this takes you to “Let’s gather your business
info” screen
- The first section down
is Business Income and Expenses, choose Update
- You are now at
the “Here’s the business info we have so far” screen where
you should see your Business listed
- Click Edit next to
that business and on the next screen, scroll down to the fourth section
which should be Business Expenses and select “Visit All
To enter
income from self-employment without a 1099-Misc:
Type “Schedule C” in the Search
box and then select the “Jump to” link. This will take you to where you can
enter any cash, personal checks or credit card payments (Form 1099-K) related
to your self-employment. You may be asked some general questions about your
business. After you answer them, you’ll be taken to the Your Business screen
where you can enter this income as Additional Income under Business
Income.
