Where do I enter my income from my self-employed business?

posted

If the business is a sole proprietorship or single member LLC, then it gets reported on SCH C as a part of your personal 1040 tax return. If using the online version of TurboTax then you will need TurboTax Self-Employed. If using the CD/Desktop version of TurboTax then you will need TurboTax Deluxe or higher. With one exception, business income/expenses is reported under the Personal Income tab in the Business Items section.

For the Desktop version called TurboTax Home & Business, it's reported in the Business Income & Expenses (SCH C) section under the Business tab in that specific version of the program.

If the business has more than one owner or if the business is an S-Corp, C-Corp, Partnership or multi-member LLC then none of the above applies to you. You'll have to let us know if this is your case.