If the amount was reported in box 7 of the Form 1099-MISC then you will have to report the total income on the Form 1040 Schedule C or Schedule C-EZ. TurboTax will determine the applicable form once you begin entering your information.
You are considered an independent contractor when box 7 of the Form 1099-MISC has an amount; therefore, you are able to deduct any business related. You will report your expenses (e.g., gas, supplies for project) in Part 11 of the Schedule C as a deduction.
To begin entering your information into TurboTax, do the following
- Type Schedule C in Find
- Click
the Jump to schedule c link
- Navigate
through the program to begin entering your income and expenses
You income will appear on line
12 of the Form 1040 Schedule 1.
