If you're an independent contractor, and your earnings are reported to you in Box 7 of a 1099-MISC, then the IRS considers you a self-employed "business". Your "business" earnings (and expenses) are reported on Schedule C. In other words, when you're self-employed, to the IRS you do "own" a business.
You can enter your own name as the name of the business.
Just pick the business code that most closely fits the type of contracting work that you do. Here's the list: https://taxmap.irs.gov/taxmap/instr/i1040sc-016.htm
The business code won't affect your return; the IRS uses it for statistical purposes.
An employee's earnings are reported on a W-2.
In most cases TT Self-Employed is the best version of TurboTax for independent contractors.
If you're an independent contractor, and your earnings are reported to you in Box 7 of a 1099-MISC, then the IRS considers you a self-employed "business". Your "business" earnings (and expenses) are reported on Schedule C. In other words, when you're self-employed, to the IRS you do "own" a business.
You can enter your own name as the name of the business.
Just pick the business code that most closely fits the type of contracting work that you do. Here's the list: https://taxmap.irs.gov/taxmap/instr/i1040sc-016.htm
The business code won't affect your return; the IRS uses it for statistical purposes.
An employee's earnings are reported on a W-2.
In most cases TT Self-Employed is the best version of TurboTax for independent contractors.