May not file Self employed this year

[Gracee22212]

how do i chose regular tax

[quorumof1]

Hi There

Please see below for guidelines:

You have to file an income tax return if your net earnings from self-employment were $400 or more. If your net earnings from self-employment were less than $400, you still have to file an income tax return if you meet any other filing requirement listed in the Form 1040 and 1040-SR instructions PDF.

Who must pay self-employment tax? You must pay self-employment tax and file Schedule SE (Form 1040 or Form 1040-SR) if either of the following applies. Your net earnings from self-employment (excluding church employee income) were $400 or more.

[KarenL4]

Hi, Grace,

It sounds like you have been reporting your self-employed income under a SCH C in your 1040. That type of compensation usually comes in as a 1099-NEC (or other 1099).  If you switch to regular employment, you will typically receive a Form W-2 to report your compensation.  W-2's report on Row 1 of your 1040 (Total Amount from Form(s) W-2, box 1...) and self-employment income ultimately reports on Row 8 (Additional income from Schedule 1, line 10 (via Line 3 (Business income or (loss)... on SCH 1)).  Most other types of income also ultimately find their way to the Form 1040. My point is that you are still typically filing a Form 1040 for your personal income tax regardless of whether your income is sourced from self-employment or traditional employment.

The great news is that you don't have to worry about the form numbers if you use TurboTax.  You input the data (or give it to your Full Service agent) and the program (or the agent) gets it to the right place!

Hope this helps.

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Regards,

Karen

TurboTax Expert