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Get your taxes done using TurboTax
To report income under $600 in TurboTax, first decide what type of income. Here are the steps for entering two main types of income:
Income from Self-employment:
- If the income is from an intent to earn money, include it in your self-employment income & expenses if you want to deduct expenses.
- In the search box, enter schedule c
- Click the Jump to link
- Use Other self-employed income as the type of COMMON INCOME for income from 1099-K, cash and Checks.
- If the income is from your business, but is for cash prizes, shipping overcharges, repayments or interest from a loan someone owes, you, use LESS COMMON INCOME for Uncommon income.
- Go through the rest of the interview
Any Other Income:
- Otherwise, if the income is for some other reason, such as from a hobby, reimbursed expenses, or proceeds from selling personal property, then follow these steps:
- From the left menu, select Federal. This will automatically open to Wages & Income.
- Scroll all the way to the end to find Less Common Income and Show More.
- Scroll down to Miscellaneous Income, 1099-A, 1099-C and select Start.
- Scroll all the way to the last option, Other reportable income and select Start.
- Any Other Taxable Income? answer Yes.
- Enter your details.
February 8, 2021
6:27 AM