To enter business income and expenses on your Schedule C please
follow these steps:
- Click on
the Business tab > Continue > I'll choose what to
work on
- On the Let’s gather your business info
screen, in the Business Income and
Expenses section, click the Start/Update
button. [See Screenshot #1, attached.)
- If you
have already started adding information about your business, you will see
the Here's the business info we have
so far screen. Click on the Edit
box next to the business. [Screenshot
#2]
- If you
haven't already started adding business information, continue through the
screens to enter the needed information.
- You will
now be on the Your [business type]
Business screen. In the Business
Income section, click on the Start/Update box.
[Screenshot #3)
- On
the Business Income screen,
click on the Start/Update box
next to 1099-MISC Income. [Screenshot #4) If ;you did not receive 1099-MISC forms,
click on the box next to General
Income. Continue through the
screens, entering the requested information.
- You will
be brought back to the Your [business
type] Business screen, where you can enter other information about the
business (expenses, assets, inventory).
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