Retirement tax questions

Yes you can report it as self employment cash income.  They might give you a 1099NEC if someone pays you 600 or more but you don't need to get a 1099NEC or 1099Misc.  

 

You can include the other income as cash on your return and you will not need the 1099.  To do so, follow the steps below.

 

Go into your account with Turbo Tax

Select Federal Taxes, then

Select Income and Wages, then

Scroll down and select, Self-Employment - Income & Expenses -  Start

Say YES to Did you have Self Employment Income (if that screen comes up)

Then Tell Us The Type Of Self Employment Work You Do, here you can put in a description and Continue

The next screen will be Let's Get Income, here you will select 'Additional Income'.  This is for cash income.

Then continue as you normally do with your return.

 

You will fill out a Schedule C to report self employment. You need a Net Profit of 400 or more to count as earned income and give you Social Security Credit.

 

You can enter Self Employment Income into Online Deluxe or Premier but if you have any expenses you will have to upgrade to the Self Employed version.  Or use any of the Desktop CD/Download programs.

 

How to enter income from Self Employment

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...