The IRS considers the income from your side job a business. You are considered self-employed and will complete a Schedule C which is how you report your self-employment income. The good news is that you can deduct ordinary expenses that you incurred making this income. Follow the steps below to enter your income.
- Launch TurboTax
- Select Wages and income
- Select Self-Employment Schedule C:1099-NEC
- Answer Yes on the next screen - Did you have any self-employment income or expenses?
- Answer the questions on each screen, when you get to the screen - Let's enter the income for your work, select the form from your income or cash
- Scroll through the screens to enter your information
- Continue going through the screens to enter your expenses.
For additional information, review the TurboTax help articles: How does my side job affect my taxes?, How do I report income from self-employment? and Where do I enter my self-employment business expenses, like home office, vehicle mileage, and suppli...
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