You should enter these incomes under the self-employment income business. This would apply to income reported on a 1099-K or 1099-NEC.
To enter the self-employment income and expenses you would:
- Enter self-employment income in the Search Magnifying Glass in the upper right hand corner of the screen.
- Select Jump to self-employment income.
- Answer the questions on the screens.
On your Product Testing self-employment, you would show your cost of the products and the reimbursement as income. On your Product Questionnaire and Product Comparison income you would add this as a separate income on the Product Testing self-employment. This is similar type of income. If you have any other "Out of Pocket" expenses, you can deduct them as self-employment expenses.
You do not need to send a balance sheet to the ITS. Your Schedule C for self-employment will show what you were paid and the expenses that you paid.
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