If your compensation is listed in box #7 of Form 1099-MISC, the IRS considers you to be self-employed, also referred to as an
independent contractor.
If you earned more than $400 net income (income less expenses)
working as a self-employed individual (or independent contractor), you must
file a Schedule C, business income and expenses with your personal return and pay self-employment tax-same as
withheld on a W-2.
If you otherwise earned enough to
file a return, you must report your self-employment income, no matter how
small.
To report your business income and expenses in TurboTax:
Type in schedule
c in the search box, top right of
your screen
Hit the Enter key
Click jump to schedule c in the search results
Follow the prompts and online
instructions
