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Where do i enter income we payed to our children in the business expenses

 
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DianeW
Expert Alumni

Where do i enter income we payed to our children in the business expenses

If this was paid because they provided bona fide services, they are deductible.  If you paid over $600 to one child you are required to issue them Forms 1099-MISC.  If over $400, that alone makes them required to file a tax return due to self-employment tax.

To record these expense in your TurboTax Self Employed account follow these steps:

  • My Account > Tools > Topic Search > Type business expenses > Go
  • Edit your business > Select Business Expenses > Other Common Business Expenses > Contract labor
  • Click the attachments to enlarge and view for assistance.

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