You will report this self-employment income on Schedule C of your tax return. The IRS considers self-employment income as a business, so you will also be able to deduct common business expenses from your income. To enter you business and self-employment income, follow the steps below:
- Open TurboTax
- Select Wages & Income
- Select Self-Employment Income and Expenses
- TurboTax will guide you through the interview screens to help you enter your income.
Review the TurboTax articles Reporting Self-Employment Business Income and Deductions and Property Management Tax Deductions for more information on business deductions. For additional information, review What self-employed expenses can I deduct? and How do I report income from self-employment?
@Pauly R
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