Yes, Independent Contractors and Self-Employed individuals claim income and expenses on Schedule C Profit or Loss from Business. there are two ways to enter income depending on whether or not you received a 1099 or not.
Report income with a 1099-Misc
While in your return, type
“1099-misc” in the Search box and then select the “Jump to” link. This will take you directly to the section
where you can enter your 1099-MISC.
After you’ve entered the
information from your 1099-MISC, TurboTax will ask a series of questions to
determine if your 1099-MISC income is from self-employment or is ordinary
income.
Report income
without a 1099.
- Click on Federal Taxes on the
top row of TurboTax Deluxe Online.
- Click Wages &
Income
- Under All Income, click Show all
income
- Scroll to Self-Employment,
click Start
- Click Yes to Did you
have any self-employment income or expenses?
- Enter any income from sales
or services that weren't reported on Forms 1099-MISC
