Deductions & credits
When you start to enter self-employment income into TurboTax you will begin by clicking on this section here-
and click on 'Business Income and Expenses (Sch C)'.
Once in there you will have to enter a lot of information about your business. If it has a name you will enter it here and any income that the business made gets entered here as well. If you received form 1099-NEC or 1099-MISC or 1099-K you will have a chance to report them. There is also a section to report payments that you received that were not on a form.
The next screen is where you will enter expenses-
Here you can enter any expenses relevant to your business for the year. Once you have finished entering those expenses TurboTax will calculate your profit or loss for the year and what taxes you will owe.
