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Deductions & credits
When you have a side job where you're not an employee, the IRS considers you to have your own company so you were in the right area of TurboTax. You would use your name as the company name, your business address is your home address and your Social Security Number as the "company" number.
TurboTax is going to generate a Schedule C, Profit or Loss From Business, when you enter your 1099-MISC side job self-employment income.
You may use the following TurboTax products to report your business, unemployment and wages:
- If you're using the TurboTax Online version, you may use TurboTax Self-Employed, and TurboTax Live Self-Employed.
- If you're using the TurboTax CD\Download version, you may use Deluxe, Premier, or Home & Business.
- See What are the advantages of the TurboTax CD/Download software over the Online version?
Note: The higher the version, the more step-by-step guidance you'll receive.
To enter your business related expenses, see Where do I enter my self-employment business expenses, like home office, vehicle mileage, and suppli...
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March 2, 2021
5:10 AM