MonikaK1
Employee Tax Expert

Retirement tax questions

In addition to the information provided by @xmasbaby0, note that if you also have expenses to report, and are unable to proceed in TurboTax with a Schedule C on the return, it may be that you have a TurboTax product that is not designed to prepare a complete Schedule C. If you use Deluxe, for example, you can report income from self-employment but not all expenses. The full Schedule C can only be found in Turbo Tax Self-Employed for online users, or Home and Business for desktop/download product users.

 

If the payment you received was for a one-time event, and you don't regularly do independent contractor work, then you could designate the income as a "sporadic" activity in TurboTax and not need to prepare a Schedule C or Schedule SE. 

 

Please see this thread for a detailed discussion of a similar topic with other examples and options.

 

Please also see this TurboTax help article for more information about self-employment tax.

 

See this TurboTax Tips article for more information on preparing returns with Schedule C.

 

@idembny 

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