MayaD
Expert Alumni

Get your taxes done using TurboTax

The IRS has reintroduced Form 1099-NEC as the new way to report self-employment income instead of Form 1099-MISC as traditionally had been used.

To claim your Business expenses, you need to upgrade to Turbo Tax Self-Employed (Online) or TurboTax Home & Business (desktop).

 

To report the income on your return:

  • Log in to your account.
  • Select Federal from the left menu.
  • Go to Wages and Income then select Income and Expenses.
  • Go to Self-employment income and expenses and click start. you'll be asked some general questions about your business. After you answer them, you’ll be taken to enter your Income and Expenses.
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