PaulaM
Employee Tax Expert

Retirement tax questions

Favor is correct that they do not have to issue a 1099-K until gross payments exceed $20K and more than 200 transactions. Even though you did not receive a 1099-K, the income you earned is considered self-employment income.

Self-employment income is entered on Schedule C and is supported by TurboTax Home & Business. Along with the income your report on Sch C, you will be able to deduct fees, commissions, phone rental payments, mileage (if you keep a log), vehicle expense etc.

To get started in TurboTax Deluxe, type Schedule C in the search box, then Jump to Schedule C link. You will be prompted to upgrade to TurboTax Home & Business. Proceed entering your self employment income/expenses. 

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