Yes, regarding the Sch C removal and No, for the Hobby income. Consider the following steps in addition to the steps that you mentioned for removing the Sch C:
- Go to the Wage & Income section in TurboTax
- Select "Review" next to Self-employment income and expense
- If you have one self-employment activity, click on "delete" to remove it.
- If you have multiple self-employed activities, click on the trash can icon for the activity you want to delete.
Depending on your Schedule C situation, whether it's rolling over from previous years or if you entered it for the first time this year and need to remove it, you may need to apply both steps.
Additionally, before removing your Self employment income activity, It is important to make sure that you indeed no longer qualify as a business per the IRS. The IRS does not allow any deductions for hobby income so it may cause more taxable income for you. Generally, if your business does not show a profit for 1 of the last 5 years, the IRS may not consider the activity a business any more. There are additional factors that come into play when making this determination. The following links provide more info on the differences between a business and a hobby:
Regarding entering hobby income. If you received any tax forms for your Hobby income, such as a 1099-K, 1099-NEC, or 1099-MISC, navigate to the appropriate form in TurboTax and follow the questions to get your form entered on your return. Here is a link that gives a step by step instruction on how to enter a 1099-MISC; Where do I enter a 1099-MISC?
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