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Deductions & credits
In TurboTax you should post the Personal Information, including the children to his tax return. This will give him a filling status of Head of Household, thus dead-beat spouse out of the picture.
You will have to get the Self-Employment software. You can get it online at TurboTax.Intuit.com.
If you received a 1099-NEC, you will be considered Self-Employed and be assessed both income tax and self-employment taxes. The expenses you enter will reduce both taxes. They will be entered on Schedule C described a little later.
Self-employment taxes an additional 15.3%. The rate consists of two parts: 12.4% for social security (old-age, survivors, and disability insurance) and 2.9% for Medicare (hospital insurance).
On the sidebar
- Select Federal
- Wages & Income
- Select Wages and Salaries, or Revisit
- Scroll to Other Common Income
- Refunds Received for State/Local Tax Returns
- Form 1099-NEC
- Form 1099-MISC
- Form 1099-K
- Verify that you do have a 1099-NEC [Yes]
- You may have to upgrade your software.
- The next screen is to [Add a 1099-NEC]
- Enter your information.
To prepare your Schedule C,
- Log into TurboTax.
- Select Income & Expenses.
- Work on other income
- Scroll down and select Self-employment income and expenses
- Continue through the interview.
If this does not completely answer your question, please include @JohnB5677 in your reply and provide some additional details.
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