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I had a very small home bakery for 9 months in 2017 (now closed down). It was just me and i got paid in cash. I paid sales tax quarterly but where do i declare my income?
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June 4, 2019
9:17 PM
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Get your taxes done using TurboTax
Assuming you did not open a corporation, on Schedule C Profit or Loss from Business. Record your earnings and expenses to determine your profit.
Here's how:
- Click on Federal Taxes on the top row of TurboTax Self Employed Online.
- Click Wages & Income
- Under All Income, click Show all income
- Scroll to Self-Employment, click Start
- Click Yes to Did you have any self-employment income or expenses?
- Enter any income from sales or services that weren't reported on Forms 1099-MISC
June 4, 2019
9:17 PM
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Get your taxes done using TurboTax
I don't have a 1099-misc. Is this something i should receive from the government? It was just me selling cakes for cash. Do i need to create my own 1099-misc?
June 4, 2019
9:17 PM
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Get your taxes done using TurboTax
No. Not everyone receives a 1099-MIsc. You would not issue one to yourself.
June 4, 2019
9:17 PM