To prevent problems, first check to make sure that the income from self-employment is entered before you enter your expenses.
In
TurboTax, we don’t create a separate entry for your 1099-K info. That's because
your 1099-K income should already be included in other income such as a
1099-MISC
However,
if you don't have a 1099-MISC, report your 1099-K by following these
steps before you enter any expenses:
·
Click on Federal Taxes on the top row of TurboTax Deluxe Online.
·
Click Wages & Income
·
Under All Income, click Show all income
·
Scroll to Self-Employment, click Start
·
Click Yes to Did you have any self-employment income
or expenses?
·
Enter any income from sales or services that weren't reported on
Forms 1099-MISC
(See
the attached screenshot below. Click to enlarge.)
On
the next screen, it will ask if you had expenses. Say "Yes"
Here's a link for more expenses deductions that may help you:
http://quickbooks.intuit.com/self-employed-center/complete-list-of-self-employed-expenses-and-tax-de...
