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Level 1
posted Mar 21, 2024 4:13:06 PM

Where do I type in business fees generated from Square?

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1 Replies
Expert Alumni
Mar 21, 2024 4:48:15 PM

I believe you mean you received money for a business activity through square and you need to know where report it in TurboTax. You enter that in the Wages and Income section of TurboTax, and then Self-employment income and expenses:

 

 

You will come to a screen where you indicate how the income was reported to you. If you received a Form 1099-K choose that option, otherwise choose the 1099-NEC or Other self-employed income options.

 

You will be asked to enter any expenses you have for the service or product you provided. You can deduct any expense that are ordinary and necessary to generate the business income.