How to start my tax filing on turbo tax Home and business

Forum|Forum|2 years ago
January 16, 2024
2 replies
13 views

Hi,

I am faced with so many questions and I don't know how to start. I use to start by myself first, and then enter my wife information. however, this year, my wife hired me to do some work for her for her business, and therefore, I need to use the 1099 NEC that she issued for me to file my taxes.

So I decided to start with her, since Turbo tax asked if I want to issue a W2 or a 1099. However, when I did that, it has give another to whether I choose to do employee form online or on my computer. it says online is recommended. I am not sure, what should I do? this is my first time doing this. Please explain and elaborate.

Best...

Tarek

VolvoGirl

Level 15

You are in the wrong place. Did your wife already prepare the 1099NEC? Or does she need to create it? You still file a Joint return.

Get out of these screens. Those are just to prepare W2s or 1099s. Start over with a New Return.

In the Window's Home & Business Desktop program when you start a new return you get 2 choices. To prepare an Individual Tax Return or to prepare W2s or 1099s to give to your employees and sub contractors.

Click the big blue button to Start a New Return or go up to the top black menu bar first item, File-New Tax Return.
Then on the next screen it asks What would you like to do?
If you get a screen with 2 choices, Pick or Check the one that says Start a New Individual Tax Return or says 2023 US Form 1040.

When you get that far and still have questions then post back. I have Home & Business too so I can make you screen shots.

xmasbaby0

Level 15

Do NOT change the order of the names on a joint tax return or you will have a big mess on your hands. You need to stay consistent with past joint returns you have prepared and filed, and keep the names on the Form 1040 in the same order in which they have been shown in the past.

So----if your name is listed first on your 2022 tax return, you keep it that way for 2023. Wife stays listed second after your name. Every income screen will have spots with each name on it, so you just have to be careful about whose name you are entering the income under.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

tgad1000Author

Level 5

thank you!

i will follow your advice. How should I enter my 1099 NEC? this is my income for the year 2023?

Best...

Tarek

VolvoGirl

Level 15

How does your wife file her business income? Does she use Schedule C or file a separate Business return? If she does schedule C in your personal tax return you do your own Schedule C too.

Have you used the Desktop program before? How did you do 2022 tax return?

1099NEC is self employment income and you HAVE to file it on Schedule C, especially to be counted as earned income. You need a Net Profit on Schedule C to show earned income. I would forget about entering the 1099NEC or 1099Misc. Just enter the total as Other self employment income or as Cash or General income. You don't need to enter each 1099NEC or 1099K. You can enter all your income as Cash. Only the total goes to schedule C.

Have you started your tax return yet? Were you able to transfer from 2022? Home & Business will first take you though the Personal Info part to enter your names, address, ssn and dependents. Then it takes you though the Business tab. You fill out your 1099NEC income there.