Self-employment is calculated by your gross earnings minus your business expenses. If your expenses exceed your earnings, you will show a loss on your return, which will reflect a negative number. You will enter self-employment income and expenses in TurboTax by following these steps:
- Click Wage and Income
- Scroll down to self-employment, click show more
- Click revisit/start next to self-employment income and expenses
- Click Add another line of work
- Follow the remaining interview questions to input self-employment income
For more information on Self-employment income, see the link below:
Self-employment Income
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