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Get your taxes done using TurboTax
You need to choose the accounting method under Self employment . The most common method is the Cash Method- reporting income in the year actually received it and reporting expenses in the year actually paid.
To choose the accounting method;
- Log in to your account.
- Go to Federal Taxes.
- Go to Wages and Income.
- Go to Self employment Income and Expenses and click review.
- Click Edit next to your line of work .
- Select Edit next to the General Info
- Scroll down to Tax Detail and click Edit under Accounting Method.
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March 2, 2020
2:47 PM