For tax purposes, self-employment income includes any part-time business or "side work" performed in which you are in business for yourself, rather than another person. You are also considered self-employed and need to file a Schedule C if you engage in business-like activities where you intend to make a profit. This would include money received working for Beachbody, LLC.
To set up your business on a Schedule C:
- Open your return.
- Search for schedule c and click the Jump to link in the search results.
- Answer Yes to Did you have any self-employment income or expenses?
- Follow the on-screen instructions.
- On the page titled, Your info, scroll to the bottom and click Looks Good.
- Click on Form 1099-NEC on the page Let’s enter the income.
- Click continue.
- Follow the on-screen instructions.
- Enter any relevant expenses to your business.
For more information on entering business expenses, please see Where do I enter my self-employment business expenses, like home office, vehicle mileage, and suppli...
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