If you are issuing 1099MISCs, then you will also want to include that amount as a business expense for your Schedule C. You can enter it as an expense for Contract Labor under Business Expenses.
If you need to get back to your self-employed income/expenses for Schedule C follow the instructions below -
- Log into your account and click Take Me To My Return (you must click this before searching if you are not already in your account)
- Type “Schedule C" in the search box, top right of your screen, then click the magnifying glass
- Click the "jump to schedule c" ink in the search results.
- You will arrive at the Your Business summary page where you can add/edit a business
- Follow the onscreen instructions to enter your business income and expenses
- When you get to Business Expenses - Choose the Contract Labor option
- If you don't see Contract Labor on your list - Select Less Common Business Expenses and now you should see the Contract Labor option from the list
- Enter the amounts you paid out for the 1099-MISC
