KarenL4
Employee Tax Expert

Business & farm

Hi, Grace,

It sounds like you have been reporting your self-employed income under a SCH C in your 1040. That type of compensation usually comes in as a 1099-NEC (or other 1099).  If you switch to regular employment, you will typically receive a Form W-2 to report your compensation.  W-2's report on Row 1 of your 1040 (Total Amount from Form(s) W-2, box 1...) and self-employment income ultimately reports on Row 8 (Additional income from Schedule 1, line 10 (via Line 3 (Business income or (loss)... on SCH 1)).  Most other types of income also ultimately find their way to the Form 1040. My point is that you are still typically filing a Form 1040 for your personal income tax regardless of whether your income is sourced from self-employment or traditional employment.

The great news is that you don't have to worry about the form numbers if you use TurboTax.  You input the data (or give it to your Full Service agent) and the program (or the agent) gets it to the right place!

Hope this helps.

**Please cheer or say thanks by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Regards,

Karen

TurboTax Expert

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"