If you're
self-employed then you’re a sole proprietor and your business is a sole
proprietorship.
Sole proprietorships:
- Owned by one person—you don’t have any partners.
- Unincorporated—you haven’t filed any legal forms to incorporate
your business.
- No legal distinction between the owner and the business—you are
entitled to all the income, but also must pay the bills, including taxes.
To enter your business income and expenses:
- Type Sch C in the search/find bar and click search/find.
- Click on Jump to Sch C.
- Click on start or Add Another Business.
- TurboTax will ask you a series of questions to record your business income and expenses. See the screenshot below.
Related Information:
