The IRS requires that all income be reported. You will report your income and expenses on Schedule C Profit or Loss from Business. You will report your income in the year in which you earned it. If you started your business in 2019 and have income from the business you will have to report that income on your 2019 tax return. TurboTax Premier will allow you to prepare Schedule C to include your income and expenses. To enter your business income and expenses with TurboTax open enter "Schedule C" in the search box click on Jump to Schedule C in the results window. Then follow the prompts to enter your information.
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