Hello and thank you for your help. I have turbotax premier for this year's taxes. This will handle all of my family's needs. However, 1 family member (cannot be claimed as a dependant) has a small online business using Depop (think along the lines of eBay). Her business is pretty straightforward: buy clothing at thrift stores and resell online. Her only expenses are gas, time spent, and shipping materials. Depop has provided her with a 1099 form which takes in account any refunds that occurred, sales tax, and selling fees. Pretty straightforward.
question #1: is whether I can use Premier for her business? She is not employed otherwise and made $40,000 gross last year doing depop. She has all her receipts for her purchases.
question #2: she was not expecting to do so well in 2024, so she did not do quarterly estimated taxes. Will turbotax premier figure out her penalty?
question #3: will turbotax premier help us determine estimated quarterly taxes for 2025? or should we rely on form 1040ES to come up with estimates?
thank you for your help!!
