AmyC
Expert Alumni

Business & farm

You will file a schedule C. You don't need a business license or a tax number. The program will calculate the self employment tax for you and add it to your return. When you are done entering your information, the federal review will ask about stimulus payments. Any missing amounts will be calculated and added to your refund or reduce your tax liability.

 

You will need your business income and expenses. The program will walk you through. You will also want to visit the personal section on Tax relief related to COVID 19. You may qualify for additional credits there since you are self employed.

 

Helpful links:

Small Business and Self-Employed Tax Center - complete guide

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