If there are wages reported in box 7 of your 1099-MISC then
you are considered an independent contractor/self-employed by the IRS. You
might not have opened a business, but by being an independent contractor you
are in-fact the business. Your business name is your name and the business
address is your address.
You will need to be using the self-employed version of Turbo Tax. When start entering in the business information you will
enter in the business profile (review this carefully, the answers you out here
will help the program know what else you need to enter and generate), then move
on to the business income. Once you enter the business income, then you will be
taken to the inventory screen, then expenses, then assets. If you do not have
inventory, you can skip this, and then you will be taken to the expense page.
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