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Get your taxes done using TurboTax
Are you trying to file your 2018 return or preparing for 2019 ?
If you started working as independent contractor/consultant/sole proprietor -- you should be receiving 1099-misc for your customers. However, if you do not receive this then you have to tell TurboTax that you are self-employed and then that you do not have 1099-misc. It will then walk you through filling out schedule-C -- gross income, all the expenses related to this income and finally the net income will show up on form 1040. Also the net income will be used to compute your self-employment tax ( 15.3 % of most of the net )-- equivalent to FICA tax for W-2 earners.
Is there something else I can help you with?
‎June 1, 2019
11:49 AM